For years, thousands of people have fallen victim to unethical timeshare organisations, investing thousands of pounds into timeshares that they have never used and that have never worked for them.
Many timeshare owners feel they were duped into purchasing their timeshare by pushy timeshare salesmen, but what have people done about this? Timeshare owners have continued to pay their maintenance fees, not using or getting the most out of their timeshare ownership. In many cases, people have had to pay for extra holidays elsewhere to get where they wanted to go.
Timeshares were originally sold to clients who wanted to come back to the same place year after year. Going to a place they knew and where it felt home from home. Over the years the rules throughout the industry have changed. Timeshare companies have changed their usage system (Points & Fractional). Maintenance payments have not been used to maintain the resorts. The general harassment from the timeshare companies has become too much for their clients to handle.
If you are looking at exiting your timeshare contract and claiming compensation, Timeshare Compensation have a great team of Advisors who are here to give you advice, deal with the extrication of your timeshare and help you claim against your resort.
If you have already exited your timeshare contract and then told that you were not able to claim compensation, see the below points that may help assist you to see if you qualify;
· If you were originally told that your timeshare was an investment that could be sold
· If you were originally told your timeshares could be sold within a few years and you would make a profit
· If you were originally told you would have no problem on reselling your timeshare
· If you were told about a high demand in timeshares and the strong resale market
· If you were told that your timeshare could be rented out to cover your maintenance fees and your loan payments
· If you were told about the loan being short term and it would be repaid with the proceeds of the sale
· If you were told that when your contract price was paid there would be no other fees
As discussed in previous articles, having a perpetuity contract, being changed to Floating weeks, and paying any upfront monies, may also provide opportunities to claim monies back.
Many people don’t own the original one or two weeks of timeshare, other ownerships could be known as Points and Fractional ownerships, both of which can qualify to claim compensation.
Points were always sold as being more flexible to use where you could exchange for shorter and longer stays in different resorts and size apartments all over the world.
Many people were told year after year that they didn’t have enough points to get to the places where they wanted to go.They were then talked into purchasing more. A product that in reality was not bricks and motar, but thin air. Points have generally devalued over the years due to the status of the resorts among other reasons.
As with timeshare weeks, Points were sold as an in-perpetuity contract, which were deemed illegal in the Spanish Supreme Courts.
Not long after this happened, Fractional ownerships were bought in as a new ‘investment’ for timeshare owners, if they no longer wanted their timeshare – they could pay more money to get out of their contract and buy into a Fractional ownership.
These ownerships can also qualify when claiming compensation.
Timeshare Compensation have claimed and won compensation cases for clients with different ownerships at different resorts. For a clear and simple way to see if you qualify for compensation, or if we can be of assistance, please contact us on 0800 046 5855 or visit www.timesharecompensation.co.uk.