Timeshare Mis-selling is More Common Than You Might Think
A timeshare can be a cost-effective way to enjoy regular holidays in a dream location. But this has led to a flood of fraudulent deals.
Timeshares claim to offer the best of all worlds to cost-conscious holidaymakers. The opportunity to visit a popular and idyllic holiday destination once, twice or more times per year, at a great price, with the added safety net that you can simply sell your interest any time you want to. What could possibly go wrong?
Time has shown that the truth is often a world away from the image the timeshare salesman is pushing. Effectively, you are tying yourself into little more than an advance hotel booking every year for the next 20 years, with no guarantee of when you will be able to use it and every probability of hidden costs that will make it less affordable than you thought.
Selling your interest on is also far less straightforward than the sales patter would have you believe, and it is little wonder that timeshare compensation claims are at an all-time high.
Out of the frying pan?
Demand prompts supply, but it also attracts dishonest elements who are just out to make money by any means possible. This is the phenomenon that led to so many mis-sold timeshares, and now it has paved the way for more charlatans to appear on the scene, this time offering to bail you out.
In a move that echoes the “mis-sold PPI phenomenon” companies have sprung up left, right and centre offering so-called professional services to those seeking timeshare compensation. Many of these are little better than the fraudsters who sold the timeshare in the first place, so it is vitally important to do your homework.
Choose a company that has been around for a few years and has a proven track record. Also, ensure they are regulated by an independent body such as the Solicitors Regulation Authority (SRA). A genuine and trustworthy company with have its registration details clearly shown on its website, and will be happy to offer a free initial consultation without any obligation. Timeshare contracts are often complex, and it will typically take around 30 minutes for an experienced solicitor to take a look at yours and provide an objective indication of whether you have a realistic prospect of filing a successful claim.
Should you file a claim?
With an initial legal opinion behind you, you can make a pragmatic decision as to whether filing a claim is the right decision. This is going to be based on a number of factors including the contract’s jurisdiction, the extent to which the supplier has met its contractual obligations, the likelihood being able to engage the supplier in settlement negotiations and the costs, timescales and stress levels that are likely to be incurred in making it happen.
Don’t let these considerations dishearten you, however. The good news is that in many cases, compensation is a realistic and achievable aim, but always keep in mind that you need the right advisor to help you assess the risks, weigh up the options and arrive at the best possible outcome.