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If you file bankruptcy leaving your time share out of the bankruptcy and then refuse to pay for it what would be the fall out? If I dont make payments on something I left out of the bankruptcy what can they do to me?

raymond · Posted: Sun Nov 08, 2009 11:32 am Post subject:

I'm assuming you're talking about a chapter 7.

The Lender will foreclose on the property and file a lawsuit against you that'll result in a Judgement. If you have another property, the Judgement will placed as a lien against that property.

The foreclosure stays on your credit reports for 10 years and really hurts your FICO scores. After 36 months of on-time payments and re-established credit, you'll qualify for FHA, USDA and VA financing again.

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