The Leisure/Holiday Credit Presentation That’s Best To Avoid
You have been provided with a short break so you can attend a presentation to find out how you can recover the monies that you paid for your timeshare. It all seems reasonable so far. However …
There is no such thing as a “free lunch”.
On arriving at the hotel or the resort, the representatives of the company that are involved in the presentation will be very attentive and may be treating you like a long lost friend. However, this is very often just a ploy to gain your confidence. The first day on arriving may pass without incident. The next day, however, at breakfast, it is likely that you will be asked to attend a presentation, which may be held a few miles away. This means you will be reliant on your new found “friends” to take you to the venue and return you afterwards.
The first few hours at the presentation may involve getting to know you better, trying to find out what level of savings you may have, and the type of holidays that you take. The representatives may also want to know what timeshares you own, how much you paid for them, and how often you visit the resorts. Almost certainly the conversation is likely to turn to what is wrong with the timeshares you have, how nobody now buys timeshare at that resort, how maintenance fees are going up while standards are going down, and how the company holding the presentation can help you claim your money back.
Often the company holding the presentation will suggest that they can pursue a claim against your timeshare company under a “no win no fee” or “class action”, or that they can get your timeshare agreement cancelled so that you no longer have an annual maintenance fee to pay. It all sounds good so far, however, to enable them to offer this to you, you will need to buy the product that they are promoting! Okay, so this company is “almost certain” that they will be able to recover £30,000+ from your timeshare company, for the timeshare that was “so badly mis-sold” to you. And you’re confident that they can do this because the salesman said they did just this for his “mum or auntie”.
What could go wrong?
You have now been at the presentation for possibly 6 hours, you’re tired, hungry, and will sign anything just to get away – big mistake!
The company may have only started trading fairly recently, there is no evidence that the salesman’s “mum or auntie” ever did receive £30,000 for their “mis-sold” timeshare, and they are now asking you for £10,000 to buy their product, and such product has no “cooling off” rights. You may not discover how the product operates fully until you have paid them the money, and it will be no use then complaining that the product was not as described as the salesman will not take your calls or return your emails. You may feel that it’s not a problem, as you will get £30,000 for your timeshare so you will be £20,000 up. However, the likelihood is that you will get no compensation from your timeshare resort, so in effect, you will be £40,000 down.
Lawyers at Lincoln Green have extensive experience in recovering money for victims of mis-sold timeshare products. If you have been exposed to aggressive sales practices arising from the kind of promotions described above, then please contact us, as we may be able to recover any monies that you have paid them under a “no win no fee” agreement.
We would be very interested to hear from you in particular if you have dealt with any of the following: