Timeshare Valuation

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Post by cerberus » Fri Jul 09, 2010 4:35 pm
I'm just at the early stages of entering into an IVA with my wife after getting our finances in a bit of a mess( to say the least). We've been asked by our IP to provide proof that 4 timeshare properties I bought as an investment (mug - I know but they were very good salesman!!!) are now completely worthless.
Anyone have any ideas how to do this as every timeshare resale company seems to want to charge me even before I ask any questions.
Many thanks for your help


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Post by Shining » Fri Jul 09, 2010 8:17 pm
Hi I'm sorry I can't help with this but what I'll do is keep this bumped up for a professional opinion. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.


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Post by plasticdaft » Sat Jul 10, 2010 10:58 am
Contact your IP and ask the question,its not something that comes up too often on here but they may have an idea of how to get a valuation.

Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.


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Post by MelanieGiles » Sat Jul 10, 2010 12:50 pm
I have two useless timeshare weeks - so do understand when clients of mine say that theirs are also worthless.

I tend to take the view that as no-one will sanction the ongoing maintenance charges, that the weeks will generally revert to the developers. You should not need to therefore get a formal valuation if this is difficult - merely tell your IP that you are happy for the timeshares to be sold and any resultant proceeds paid into the IVA pot. My guess is there won't be any!
Regards, Melanie Giles, Insolvency Practitioner
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