I have a one-week timeshare but haven't paid 2009 maintenance fees. Resort company have threatened suspension/cancellation of week, which would be ok, but accountants still class it as an asset worth at least £1000.
The timeshare will be classed as an asset in BR and so the OR/trustee will likely take an interest. However, given the current economic climate and the fact you are in arrears with your fees, the liklihood is that it will be of nominal value. This will need to be dealt with as part of the negotiation with the OR if you are going down the BR route.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
Thanks Julian. The timeshare is the only thing I have left and I've wanted to be rid of it for a couple of years. It drives me mad that this so-called asset is such a'liability'. Hopefully it will, as you suggest, be considered to have only a nominal value. (By the way, it's Roundpeg)
I have a one-week timeshare
Posted - 26 January 2009 : 12:20:52
