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Expert: John Hall - 7/19/2006


Question
Dear John Hall,

My daughter signed a contract for a "Time Share"
which costs her $300.00 per month.
This was about 2 years ago.
The company that she did business with told her that if she was to run into financial trouble during the course of her contract that THEY WOULD BUY BACK HER TIME SHARE.
This was a verbal agreement and this verbal agreement soothed her fears about signing the contract.
A friend had talked her into this "Time Share"
in order to raise her credit rating.
My daughter is thinking of have the company foreclose on the "Time Share" as she has run into financial difficulty.
My question to you is how can my daughter have this company live up to their verbal agreement?
Your expert opinion would be highly appreciated.

           Best Regards,
           Priscilla

Answer
If a time share is treated as an agreement dealing with real propety (and I suspect that it is), then a verbal agreement would not be enforceable unless there was somethingin writing to evidence the obligation.  

However, she may have another option dealing with the way that they got her to sign under duress.   

Call me.  I can explain in more detail what your options are and I will not charge you just to talk on the phone.    214  779-3427  

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John Hall

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Law school graduate, Juris Doctorate (J.D.) Degree; Over 25 years of experience throughout the United States in bankruptcy law matters (Chapters 7, 11, and 13 of the United States Bankruptcy Code) primarily representing individual debtors with consumer debt or small businesses; Experience has included all aspects of debtor/creditor relations.

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