Has your timeshare become a burden on you and your family?
If so, you are not alone. In fact, recent surveys showed that nearly 85% of timeshare owners were unhappy with their purchase. Among some of the top reasons cited by consumers was the rising maintenance fees, unhappy with the resort and facilities, timeshares do not represent value for money and being lied to by sales staff.
While many people may have initially enjoyed their timeshares, things change for everyone and over time our needs and wants change. So, it does not really make sense to be trapped in something with no way out and to have to keep paying over the odds for.
With the Covid-19 pandemic, many consumers, the world over, have found themselves in unpredictable financial situations and having to keep paying for something you do not want, cannot use and that does not represent good value for money can be an expense hard to justify. It has led a lot of families to question their timeshare and if they can really afford to keep paying for it when there are better and cheaper alternatives out there. Perhaps they have a family member suffering from ill health and cannot travel, whatever the reason, navigating a way out of a timeshare contract can be a difficult task. Resorts will not make this easy for you to do, so it pays to get the right help. Understandably though many people are wary of timeshare exit companies or indeed anyone associated with timeshares. This is because there are so many rogue operators in the industry, however, there are some great people out there whose mission it is to help struggling timeshare owners.
To help consumers navigate their way out of a troublesome timeshare contract, Praetorian Legal have put together some questions you may like to ask yourself before you solicit the services of a timeshare termination company. This way you can find the right people to work with and avoid those nasty timeshare scammers.
Chargeable fees: It is important whenever engaging the services of a company or individual to make sure they are clear and transparent with the fees they are charging and what you will be getting for your money. Be wary of companies who charge upfront fees and make ‘too good to be true’ promises as they often are just that. A reputable firm will terminate your timeshare and charge you a set one-off price to do so.
How long will it take: Each resort is different and dealing with them can be a tricky process. Some resorts respond and agree quickly whilst others will make the process more difficult, so it is better to have realistic expectations when you start the termination process. A knowledgeable company will be able to advise you accordingly. If a firm offers to terminate your contract within a set amount of time this is a red flag, no one resort is the same and will not respond within a certain timeframe so do not trust anyone who says they can terminate your timeshare within so many weeks.
Selling a timeshare: Timeshares depreciate the minute you purchase one, so be extra vigilant with any company purporting to be able to sell your timeshare for anything near to what you paid for it. You can try on sell it on reputable re-sale forums and indeed eBay, however, be prepared to take a substantial cut in profit, if any, best case scenario is someone buys it off you cheaply and you are no longer obliged to pay maintenance fees.
Will your timeshare contract be terminated legally: If you use the right company with a proven track record of helping customers then yes and you will no longer have to keep paying fees. However, there are many rogue companies who simply take your money and run, and you will still be legally bound to your timeshare contract.
The mis-selling of timeshares is incredibly common, and many people suffer hardship, stress, and financial worry because of it. The good news is that it is not too late to get out of a timeshare agreement and if you believe you have been mis-sold a timeshare and have suffered financially because of it, we may be able to help you. Contact us today for free expert advice and find out if you are legally entitled to compensation and be free from your timeshare burden once and for all. If you were mis-sold a timeshare with Silverpoint, or any other resort, get in touch with us today. Our team are enjoying continued success in arguing mis-sold timeshare and holiday products. We will be honest with you, if we do not feel you have a viable claim, we will not take on your case.