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| susie.js |
Posted - 31 August 2010 : 16:48:25
My husband is to be made bankrupt, we jointly own a timeshare but I paid for it so can they say it is an asset of his. Will I have to buy him out when I paid for it?! |
| 3 L A T E S T R E P L I E S (Newest First) |
| susie.js |
Posted - 01 September 2010 : 09:05:21
I only paid £1,200 for the timeshare and we only have it for 2 weeks of a year in Ibiza, the samd fortnight every year, last week of June, first week of July.
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| debtinfo |
Posted - 31 August 2010 : 18:03:00
Also on average a timeshare usually sells at about 10% of the price you originally paid for it |
| gettingoutofdebt |
Posted - 31 August 2010 : 17:50:03
If it is in joint names then the OR will probably look at your husband as owning 50% of any equity in the property but it will depend upon how much equity is in the property. If it is only a small amount then the OR may decide it is not worth their while pursuing the amount.
I would suggest having a quick chat with one, or both, of the companies below:
Reviva UK: http://www.revivauk.com/
Jones Giles - http://www.jonesgiles.co.uk/
They are both highly respected on this forum and will be available for a quick chat to discuss the time-share, any equity, etc. |
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