Following on from yesterday’s article regarding avoiding rogue resale companies, if you are unlucky enough to have already paid fees upfront, you may find the following information useful. There are many illegal, disreputable and dishonest companies out there, who unfortunately target owners of timeshare, offering to help them resell their timeshare ownership, normally promising to get a higher price for the resale, and giving the consumer hope of recouping some of their invested money, this usually turns out not to be the case. Some companies ask for a deposit from the consumer, proceeding to tell them that there are buyers queuing up to purchase their timeshare, and that these said buyers have already paid a deposit. All they need is a signature and deposit from you the timeshare owner so that the buying/selling process can begin. Again, generally not true.
UK Government departments such as the Office of Fair Trading (OFT) and the department for Business Innovation and Skills (BIS), and the wider European Parliament are aware of this type of company. New legislation has been put in place to prevent these scams and are now prohibited under EU Directive 2008/122/EC which was implemented in all of the EU member states from 23rd February 2011.
The new legislation along with TATOCs Code of Practice for resale, which all membership companies should abide by, stresses that no up-front payment of any kind should be taken and is strictly prohibited. This code is in place to prevent timeshare companies suggesting exaggerated and elevated resale prices to the consumer. Often when an up-front payment has been taken, consumers have complained that they have not been given the after care service and had little or no contact with the company after the initial purchase was made.
Here are a few pointers that may help you:
-If you used your credit or debit card with the company, contact your bank and ask for advice, and if necessary cancel your cards.
-Always read the small print and read fully the documentation they have given or sent to you via post or email instead of what they have told you in person or over the phone.
-Always keep copies of all the paperwork and documents provided.
-Consider writing to the resale company to let them know how and why you are dissatisfied with the product. Describing how you have been misled and your concerns. Always use recorded delivery so that you have proof of postage and receipt. Ask the resort to describe exactly what it is that you have purchased and to clarify what they have taken money from you for.
Using the telephone is not quite as fruitful as call recordings have very strict legislation and may not be useable as evidence.
Another option is to seek professional legal advice. The problem with many of these companies is that they are not registered in the UK and makes communication very difficult, making it hard to claim against them. There are no guarantees that any action can be taken, often resulting in expensive fees, for no real solution, however there are some reputable claims companies.
If you bought abroad, you can complain to the highest authorities where the company is based. This can often be different address to where you purchased so beware. The Tourist Board in the location you purchased is also another place to put in a complaint about a company. The other option is to complain to the foreign Embassy in the UK.
In all cases, if you find yourself in this situation, please do not hesitate to call or email us with your story.
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk