My Life Has Completely Changed

[Asl18940]

I could use some advice. My life has completely fallen apart in the last month. A month ago I was about to under go rotator cuff surgery . That never happened because during pre-op clearances I discovered I needed an emergency heart (aortal) valve replacement. The surgeon who is head of thoracic surgery at University of Pennsylvania hospital told me I had two weeks to live, and could not believe I was barely suffering any serious cardiac symptoms. As he performed a pre-surgical CT scan he noted a mass in front of my heart. As I laid in ICU I was then informed the mass was actually a thymoma, a rare form of cancer. The mass was removed during the open heart surgery but aside from recovering from surgery to replace my valve I am now facing many weeks of intensive proton radiation therapy, and there's good reason to expect an excellent result. But in the month I've been out, and the expected next 3-4 months of home recovery, my law practice has fallen apart. At 55 I have to rebuild my career, and I simply have inadequate funds to pay off my timeshare mortgages. It's there any advice here? Can I expect any mercy or do you think bankruptcy may be my only route. Look, I'm going to be fine and I have a wonderful family. This experience has stripped away my pride and pretense, but I'm wondering about any suggestions people have about how to approach this situation. I will miss being elite plus at HGVC and a member of the Grand Luxxe, but I can't afford my old life anymore. Does anyone have any meaningful advice about how to deal with these companies? Am I truly in for a nasty battle?

 

[samara64]

I am really sorry to hear that. Hope things turn out well.

I think the 2 timeshare listed in your signature are worth some money. What about contacting a broker to see if you can sell and maybe make some money too.

Again, hope all goes well.

Sam

 

[jackio]

I have no advice but would like to say I am sorry for your troubles and wish you the best of luck. - Jacki

 

[davidvel]

Given your circumstances, my vote would be the bankruptcy route. You need a fresh start. Negotiating loans would be fruitless in my opinion.

 

[nightnurse613]

My husband sent this to me as a reason why he refuses to go to the doctor. His philosophy is "no news is good news": Although, I pointed out that you have an excellent chance at total recovery..for which, I am sure, you are grateful and I wish you the best. I think the expression is, "it never rains, it pours" and you are an excellent example. The bright side is you are alive and, hopefully, realize there is still much to live for. It's funny how a little thing - like a pre-op clearance-probably saved your life. I would think that should give you hope for the future. Obviously there are worse things than losing your timeshare. If you're a lawyer you have a much better advantage than some of us....many people are forced to file bankruptcy after losing a job or undergoing a medical procedure. I can tell you a good attitude is essential to a full and complete recovery. Best wishes.

 

[DeniseM]

I'm sorry to hear about your troubles.

Unless your timeshares are almost paid off, the resale value is probably far less than what you owe - especially the one in Mexico.

One option (a long shot) is to offer to deed them back in lieu of foreclosure.

Another option is just to let them go into foreclosure.

 

[Asl18940]

First night nurse as you suspect no news is not good news. My wife would be looking at life insurance proceeds. This was not really an optional situation.

DeniseM you've always given good advice to folks. I may be able to pay off the GM and I don't have MFs unless I use it. Hgvc is a different story. If they won't let me do a deed in lieu I have no problem spreading the word. Well just have to see since I really can't duck this situation. Let's set of others have some advice as well. Oy yoy yoy!

 

[ronparise]

I wouldnt think of bankruptcy if the timeshare debt is the only debt you cant handle. I would give whoever holds the debt an opportunity to take it back and forgive the loan, but I would have made the last payment already.
Dont worry about having a place to stay when you travel. Rent accommodations, and your next vacation when you can travel, (accommodations only) is on me. assuming an "elite plus at HGVC" guy can be satisfied with a Wyndham property

On the other hand if the timeshares are just part of a pile of debt you cant manage now. Id be in bankruptcy as soon as you have the final numbers from the health care The only question then is Chapter 7 or 13

 

[Asl18940]

Very kind of you Ron Parise. We'll figure out vacations another day. Right now is healing and rebuilding. But I've been amazed how positively people have responded especially in my community. We've never eaten so well!

 

[Passepartout]

You should circle the wagons. Call on friends, family, possibly partners. Can they keep your practice alive for a time? Should your family go to work on your behalf? Is Social Security Disability an option? You should outline your financial situation with a trusted advisor. Any competent bankruptcy attorney will take an outline to see if bk makes sense in your case.

My wife is a lawyer, and bk is a significant part of her practice. She read your OP, and said she would answer some of your questions by PM. She doesn't know a whole lot about timeshares, they're kind of my thing, but she understands debt and disability.

First things first. Attend to your health.

Best wishes

Jim

 

[bastroum]

If you owe money to HGVC contact them and tell them your story. If they don't take the timeshares back, just stop paying the loans. HGVC does not report to the credit agencies so your credit will not be impacted. After about six months they will request that you deed them back the timeshares in lieu of foreclosure. They will then take them back and release you from your debt. It will not impact your credit at all. If they go to foreclosure it will show up on your credit report.

 

[WinniWoman]

Wow. Well, you are an atty so I would think you know the answer to your own question. Since you have mortgages on the timeshares and you are saying you can't afford them I don't see anything you can do other than trying to give them back to the timeshare companies or foreclosing.

Considering the seriousness of your illnesses, I would seriously think about filing for permanent disability. To add the stress of trying to build up your practice at age 55 could kill you. For what it's worth, my opinion is to take this experience as a sign of needing to make some bigger changes in your life.

Best of luck for a speedy recovery. Sounds like you are one lucky person.

 

[vacationhopeful]

As a self-employed person with subcontractors, I hope your 'clan' supports you like most of mine did when I got sick. The ones who decided they should switch to "PAY NOW" before service got put into the "GONE and FORGOTTEN" pile ... after I got them paid off when I could with much struggle... yes they waited with much smaller payments over a longer time ... got to love caller-id.

As for other bills .. the economy is still bad here ... I got a reminder notice yesterday from my lawn care service ... I pay in Jan and Feb for my yearly service still ... works for both of us as he knows there will be a $500 check in the mail to him each of those months (his low or unpredictable season).

Relax ... chill ... unwind ... let the piles grow ... worry about YOUR care. And soon you will appreciate your REAL friends and see clearly who belongs in the "other" pile. And if you hear the saying, "Friendship does not get the bills paid" ... you just think to yourself, "Dead people don't pay bills either".

PS I figured I be spending more time in warm weather my now ... this AM I am looking at shoveling 12-16" of snow for multiple hours today and tomorrow while Baja thru several towns in my 4x4 truck. Your view of the HERE and NOW changes ... life gets good in a 'different' way ... not worst or better, just different.

 

[Bailey#1]

My wife had heart value surgery at age 55, she recovered 100% percent. Make sure you, and I stress this, "do the rehab" in a couple of months!

As for all the other things, we coped by having a "reset button" plan where we would sell everything and "dream" of a place where we would want to live. That reset button never was pushed and everything worked itself out. Even today I wonder what would have happened if we pressed that reset button! Would we be happier? more fulfilled? Point is we didn't know what the future will hold for us.

Your health is the most important thing right now, I want to wish you the best and I hope your luck will change for the better!

 

[taterhed]

I think Jim (and others) hit the nail on the head: you need to let others do your calling, worrying and scheming. If you stress yourself too much....well, the point will be moot.

Get a trusted friend/confident/partner to place some calls for you. They might need POA just for the call. Tell them the truth: due to catastrophic medical problems, you are unable to work and, therefore, pay-for or use your vacation ownership. Would they like to discuss deed-in-lieu etc... or should the matter be handled by the family's legal counsel? This might get some results without stressing you out. Ultimately, it'll be up to you or your counsel/rep., but at least it's a start.

Really, consider using this approach for all the difficult decisions coming up.

Stress is the enemy here; not the bank.

Best wishes and warm thoughts for you and your family during this time.
Respectfully, start living the rest of your life today. Remember who and what is important to you and focus on those things. Don't waste time and breath worrying about things you can't change.

Perhaps I (and all of us) should take this advice to heart and not wait until we're kicked-in-the-butt. Your story, and others', have served as a strong reminder to me personally--just how precious and fragile our lives are.

 

[ace2000]

You know, this thread is a good example of what TUG people are made out of. Kudos to all the thoughtful replies and good luck to the OP!

 

[Asl18940]

I agree. Some wonderful advice. I think I'm in a feeling sorry for myself frame of mind and will snap out of it soon. I like the but the reset button concept.

 

[willowglener]

Since you own at Grand Luxxe and HGVC, you may be able to sell them. Contact a realtor (there are a few on TUG) and see what they say.

Good luck and I wish you quick recovery.

Daisy

 

[taterhed]

I agree. Some wonderful advice. I think I'm in a feeling sorry for myself frame of mind and will snap out of it soon. I like the but the reset button concept.

Yes, the reset concept has saved the lives, marriages, families etc... of a lot of people.

You know, that whole 'grief model' concept is really true. I've seen it close-up and personal. Major changes in our lives cause major changes in our psyche. And, these changes (call 'em mood swings if you like...) take time.

You don't need my shoebox advice (free, not 5 cents!), but give yourself time move forward and deal with life....one day at a time!

Again, congrats on reaching out and good luck with it all.

 

[puppymommo]

I agree with Rob that it would be great if you could involve others (spouse/friends) in dealing with the timeshares and other issues so that you can avoid stress as much as possible. Your best gift to your family is to get well.

I wish you the best.

 

[pedro47]

I have no advice; just wishing you the best in 2016 & beyond.

 

[samara64]

Sorry, looks like I missed the loan part. This can be difficult to sell sometimes.

Wish you best of luck and hope things turn around soon.

 

[topmom101]

I am not qualified to offer any advice regarding your timeshare concerns, I leave that to the many wonderful and brilliant Tuggers. I keep learning so much from you guys. However, I just want to extend my best wishes for a full and speedy recovery to you and your family. Stay strong both in mind and spirit and please let us know how you are doing.