When one gets in over their head in debt, though overextension, loss of income, or other circumstances, it may be necessary to file for bankruptcy.
Bankruptcy is the act of requesting the federal government – acting through the U.S. Trustee – to discharge all or some of a person’s outstanding debts. As part of the bankruptcy process, the U.S. Trustee will also look at a person’s income and assets, including real estate, vehicles, or a timeshare interest.
What Happens to a Timeshare in Bankruptcy?