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Hi Matthews121, If you are behind on your credit payments such that your credit is almost as bad as a bankruptcy, and you can't pay for your timeshare, you should declare bankruptcy. If you don't pay your debts, the IRS at some point will tax you on the unpaid debts and possibly interest as income. You should consult a bankruptcy attorney if your total debt is substantial. If you declare bankruptcy, the unpaid debts will not count as income, and the IRS will not come after you for taxes on the debt. Stan.