Like many others we are the proud ( or not so proud!!) owner of a timeshare. We quickly discovered that we had been sold something that was useless to us and did not deliver on any of the promises that the salesperson gave us.
Nothing new there, as there are thousands in the same boat.
Trying to sell a timeshare in the current economic climate is like pushing fog uphill with a stick and one would be lucky to recover 1% of the original purchase price.
There have been many reports of the scams from companies offering to sell your timeshare for you if you just pay a few hundred pounds up front to cover admin costs. But now they seem to have invented a new twist, unless this is a really genuine move to recompense those who have been conned......but somehow i doubt that.
"A group court case against the timeshare companies is being prepared here in the UK that is on a no win no fee basis to recover most of your expenses from the multi national timeshare company. Because it is nowin-no fee the legal representatives will retain 40% of all funds recovered, which seems fair as they are taking all the risks and anyway 60% refund against a useless product that has no resale value can't be bad? Just such a case has been succesful in the USA and they have every reason to expect the UK case to succeed as well.
Just fill in this short survey to see if you qualify!"
So it costs nothing to fill in the form and send it off...simples??!! eh??
Then the consultant points out that although you will get compensation, you will still own the timeshare and that the ongoing annual maintenance fee will still have to be paid. Not only by you for the rest of your life!! BUT THAT IT WILL PASS TO YOUR CHILDREN WHEN YOU DIE!! and that there is no way out of that unless you can sell the timeshare.
But, of course, they can help you with that little problem, by agreeing to take the timeshare off your hands right now whilst the courtcase is being prepared ( which incidentally might take anywhere from 18 months to 4 yrs to come to court.....beginning to smell a rat here??).
Any compensation for the timeshare that is won through the court action will still be coming to you...less their costs for taking over the timeshare contract.
They are willing to take the chance on the courtcase failing..which of course is highly unlikely, but possible, and proceed to show how this will work in your favour.
Pay them say, £5000 now and they will take the risk of a further £5000 that will need to be paid on future membership fees in the life of the timeshare, should the case fail, and produce some figures to show that the court case should net approx £20000 if it succeeds.
You will receive £12k ( your 60% of the compensation). You then pay them the £5k they have been "risking" ( which you will not have to pay if the case fails) and walk away with approx £7k in your pocket
Just pay a 10% deposit towards the £5K that they require now, to cover their costs in bringing the case to court and in one month you can pay the balance of £4500. When ( AND IF) the case goes through and compensation is awarded you could walk away from the timeshare with some money in your pocket.
So, if I pay them £5k on the possibility of a court case winning some recompense for the mis-selling of my timeshare, and hand over my timeshare to them I might ( ??) in 4years time get some money back?
Why do I think that my particular case will not be included in the group action? and that I will not only be £5k poorer but even have lost ownership of the timeshare in the process . ( Although maybe losing the timeshare isn't such a bad thing!!).
Has anyone else come across this ???
Nothing new there, as there are thousands in the same boat.
Trying to sell a timeshare in the current economic climate is like pushing fog uphill with a stick and one would be lucky to recover 1% of the original purchase price.
There have been many reports of the scams from companies offering to sell your timeshare for you if you just pay a few hundred pounds up front to cover admin costs. But now they seem to have invented a new twist, unless this is a really genuine move to recompense those who have been conned......but somehow i doubt that.
"A group court case against the timeshare companies is being prepared here in the UK that is on a no win no fee basis to recover most of your expenses from the multi national timeshare company. Because it is nowin-no fee the legal representatives will retain 40% of all funds recovered, which seems fair as they are taking all the risks and anyway 60% refund against a useless product that has no resale value can't be bad? Just such a case has been succesful in the USA and they have every reason to expect the UK case to succeed as well.
Just fill in this short survey to see if you qualify!"
So it costs nothing to fill in the form and send it off...simples??!! eh??
Then the consultant points out that although you will get compensation, you will still own the timeshare and that the ongoing annual maintenance fee will still have to be paid. Not only by you for the rest of your life!! BUT THAT IT WILL PASS TO YOUR CHILDREN WHEN YOU DIE!! and that there is no way out of that unless you can sell the timeshare.
But, of course, they can help you with that little problem, by agreeing to take the timeshare off your hands right now whilst the courtcase is being prepared ( which incidentally might take anywhere from 18 months to 4 yrs to come to court.....beginning to smell a rat here??).
Any compensation for the timeshare that is won through the court action will still be coming to you...less their costs for taking over the timeshare contract.
They are willing to take the chance on the courtcase failing..which of course is highly unlikely, but possible, and proceed to show how this will work in your favour.
Pay them say, £5000 now and they will take the risk of a further £5000 that will need to be paid on future membership fees in the life of the timeshare, should the case fail, and produce some figures to show that the court case should net approx £20000 if it succeeds.
You will receive £12k ( your 60% of the compensation). You then pay them the £5k they have been "risking" ( which you will not have to pay if the case fails) and walk away with approx £7k in your pocket
Just pay a 10% deposit towards the £5K that they require now, to cover their costs in bringing the case to court and in one month you can pay the balance of £4500. When ( AND IF) the case goes through and compensation is awarded you could walk away from the timeshare with some money in your pocket.
So, if I pay them £5k on the possibility of a court case winning some recompense for the mis-selling of my timeshare, and hand over my timeshare to them I might ( ??) in 4years time get some money back?
Why do I think that my particular case will not be included in the group action? and that I will not only be £5k poorer but even have lost ownership of the timeshare in the process . ( Although maybe losing the timeshare isn't such a bad thing!!).
Has anyone else come across this ???