I want to know how a foreclosure on a timeshare affects your credit versus filing a bankruptcy.

Hello. I am a Maryland barred attorney who handles real estate matters.  I am sorry to hear of your situation.  While the options in any given case are very fact specific, there are other alternatives you may want to consider.   For instance, you may be able to negotiate a Deed in Lieu of foreclosure to avoid both bankruptcy and foreclosure. This particularly makes sense if you are talking about a timeshare where it may well cost the lender more than it is worth to go through foreclosure.  There are a number of free housing counseling resources in this state such as the HOPE hotline, although most are geared towards homeowners facing foreclosure on their residence.  You may want to consult an attorney in this state and/or negotiate other alternatives with the foreclosing lender.