Wow what a hot topic!
Many savvy timeshare consumers will balk at this headline, but the fact is that the TCA does not exist to eat of the laps of industry dons. Neither will we abandon timeshare consumers. It is our job to try and offer both sides of the story to ensure your next decision is an informed one.
Just to clarify, I have never had timeshare, never bought leisure credits and have never engaged the services of any of the above. I have however, received countless calls from Consumers who have.
The aim of this article is to try and understand why the industry (rightly or wrongly) consistently berates these two companies.
To provide some comparison;
Recently VW, Audi and others have been caught stealing, misrepresenting and engineering tricks designed to fool. No objections came out of the timeshare industry, no condemnation flowed from the so called bastions of goodness that we hear. Just silence.
In truth; why should they admonish VW and Audi when their business is regulated by others.
In respect to EZE Group and Monster, these two enterprises do not sell timeshare products, therefore they are not regulated by the timeshare legislation.
So what we want to establish is, why is the timeshare Industry so hell bent of trying to expose them as charlatans?
Why is it that the timeshare industry attacks these two companies and leaves other holiday companies alone? The answer is very, very simple, Monster Travel and EZE Group offer as part of their package “an exit from onerous timeshare contracts”.
Their products might be worthless, might be great value, they might prove worthwhile or they might not. It’s not for anyone else to determine other than a willing buyer and willing seller. Each consumer has the right to make up his own mind. It is therefore all about having a choice.
The only overriding reason for the habitual attacks, are that the timeshare industry does not want to lose its own customers. As the leisure credit companies become successful, the timeshare industry loses consumers and flounders. So whether or not the Consumer is right and these companies are miss-selling, they wont stop until the industry does the right thing.
In short, these 2 are the big players and are gathering up many, many timeshare consumers. They are selling product’s and providing consumers a golden ticket to get out of their timeshare.
The industry is hell bent on keeping their consumers and are putting these two companies down.
It is important that consumers note that the above statement is in respect to the industry, and not the consumers themselves. To provide balance, I receive calls from consumers who are both happy and unhappy with what they have purchased. I truly believe that although it is unnecessary to buy these products if you just want out of your timeshare contract (as you can use firms who sell exits only), it is your prerogative.
Normally, when in competition for business, you generally see that competing organisations promote their own product so as to convince. Rarely do you see one industry openly sledging another over potential consumers. That said, the timeshare industry holds a belief that these consumers are being poached as they are their consumers. In all wars you create armies, and the timeshare industry have created many structures which rebukes many companies, and promotes none other than those who submit to their ways. These servants of the industry are rubbishing their business and breading contempt for them in the eyes of the public.
Let’s assume for one minute that the industry is right and these two companies are baddies.
Why are the credit companies all booming, whilst the cat calling timeshare industry is declining?
Let’s take Monster and EZE models. The fact is they have a product that they want to sell. From the calls received by the TCA, we know that these meetings can be very hard going but if you don’t want something, don’t buy it. Yes, you may get pressure sold and they may do everything in their power to get you to buy, but you have your own mind.
The timeshare industry questions that these products are not worth the money they are being sold for. In response to this issue, the timeshare industry is imposing on others, their opinion and that opinion is not fact. The value of a product is assessed by a person who has a desire to buy it. If that desire is great, the value rise and if the consumer has little desire, the value would fall. If the product is enhanced by them, the value rises and if the enhancement is preserved by the consumers as being of greater value.
Simply put, how much is a bag of sand? £2.50? If that sand was from the beaches of the Normandy landing and mounted in an ornament – the value rockets as a consumer who can relate to the product attaches a precieved enhanced value.
The enhancement in the leisure credit industry in my opinion is the addition of obtaining an exit from a locked in timeshare product.
On the other hand, like buying car insurance, shopping around will ensure your desire is met by choice and therefore, allows you to make an informed decision. So many times I receive calls from consumers who went to one of these meetings wanting an exit only and left with credits on top. They were sold because of desire to own an ‘investment’ and forgot their original intentions.
Without shopping around and establishing exactly what your options are, consumers fall into the laps of these companies who offer a product which accompanies the sought after exit. Most of the consumers who attend these meetings are desperate to see an end to their timeshare burden. They will pay whatever it takes and don’t take the time to read between the lines.
What we believe is that if the industry broadcasted that anyone can leave their timeshare commitment, if and when they chose and free of charge, the enhancement that the leisure credit companies enjoy would crash.
The industry wants to keep consumers trapped in the contracts and that is why these company are flourishing, because they offer a way out.
What we have seen over the last few months is that some resorts are offering free exits. But they come with conditions. Mainly that consumers have to agree not to pursue them for compensation. Therefore, stopping the consumer from potentially recovering what they are owed. For some this is a welcomed light at the end of a dark tunnel, but for others, this pushes them further into the arms of companies such as Monster Travel and Eze Group.
What we are definitely not saying, is that the leisure company have great or bad product’s nor are we saying that they are cheap or expensive, only that they will thrive because the timeshare industry lacks flexibility.
Posted on: November 24, 2015
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 0203 519 3808 or email: info@TimeshareConsumerAssociation.org.uk