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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Vacation club membership

Is a vacation club membership considered an asset? It is based on a point scale which can be used at multiple vacation resorts at any time during the year. It is not a fixed location and time period like time shares.

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One Response to “Vacation club membership”

A licensed trustee said...

If your club membership has a “cash value” (that is it can be sold) then it represents an asset that must be dealt with by your trustee if you file an assignment in bankruptcy.

If it is important to your family then you may want to consider filing a proposal instead of bankrutpcy – with a proposal your assets are not seized and sold.