Timeshare Bankruptcy

My timeshare association has mentioned the possibility of filing for bankruptcy in Florida as a last recourse option due to the economy and so many owners not paying their maintenance fees.

Can you explain if this will lock the doors where owners will not get their week or weeks if they haven't taken them before the filing or would this be a reorganization process where the owners' weeks would still be honored?

I appreciate any information you can give me when an individual resort encounters financial difficulties that is not a part of a large chain such as Wyndham.

We had one of our timeshares go bankrupt and we got nothing. Just a loss, that is non deductible on taxes. Now I am glad its gone because I would, at this point in my life, be wanting to get rid of it anyway (we are older and don't want all the timeshares we did buy). At least this way I am not being dinged on maintenances. Bad investments unless you go every year and love the place.

What a sad situation this is. Unfortunately, unless I see what the resort has said, its hard to give a definitive answer to your good question.

Can you provide me with details? if you don't want to provide them here on a forum, e-mail me at lisa@timeshareinsights.com.

I might call the resort as well and see if I can get more information.