This is a complete guide to Timeshare Claims in 2023
So if you want to win your timeshare claim and get the money in your bank account, you'll appreciate the actionable tips in this new guide.
Let's dive right in.
Timeshare Claim Fundamentals
In this chapter we'll answer the question "What is a Timeshare Claim?".
We'll also show you why Timeshare Claims are so popular in 2022.
Let's get started.
What are Timeshare Claims?
Timeshare Claims are the process of claiming back the money you paid for the Timeshare product you purchased due to mis-selling, resort closure, breaches of the consumer credit act, or failure to uphold the regulatory standards provided by the Financial Conduct Authority (FCA). Club La Costa, Azure Resorts, Silverpoint, Club Paradiso, Diamond Resorts and Anfi Resorts have all committed these common breaches.
Why are Timeshare Claims so popular in 2022?
To understand that, you only need to jump back into your time machine and look at what happened to yourself! Hungry sales sharks baying for blood at sales presentations hunting down their commisons with every fibre of their being! Mis-selling timeshares like their lives depended on it! Selling Timeshare as an investment is illegal, as are many of the timeshare contracts that promoted resale at the end of the term. This, along with resort closures and breaches of FCA guidelines for the sale of finance, has led to many thousands of Timeshare clients being awarded compensation. Click here to look at some of our recent winning claims.
How do I qualify for a Timeshare Claim?
In this chapter, we will discuss whether you are eligible to claim compensation and have any outstanding finance written off.
Our most common complaints and claims are against Clydesdale Financial Services, Barclays Partner Finance, First Holiday Finance, Honeycomb Finance, Shawbrook Bank, and Hitachi Personal Finance.
Timeshare Claim Qualification
To qualify for a Timeshare Claim, you must have taken out finance that was set up for you at the point of sale. This type of finance is called 'linked' unsecured finance, which was specific for purchasing the timeshare product. So if you took out a loan with any of the following companies, the first qualification stage is complete.
- Clydesdale Financial Services
- Barclays Partner Finance
- Honeycomb Finance
- Shawbrook Bank
- First Holiday Finance
- Hitachi Personal Finance
Am I too late to make a Timeshare Claim?
Not necessarily. In some cases, we can claim back as far as 2006! But, usually, the statute of limitations has a time limit of 6 years from when the finance was paid off. However, due to recent decisions by the Financial Conduct Authority (FCA) and Financial Ombudsman Service (FOS), some claims are not restricted by time limits.
How do I cancel my Timeshare finance?
If you are still paying a loan that you took out to pay for your Timeshare and would like to cancel it, there are two options.
1. Just stop paying. However, this isn't necessarily recommended as it could affect your credit rating and increase what you owe.
2. Make a claim. A successful claim will cancel your finance and correct any credit reference records that were negatively affected. Any monies paid whilst the claim is ongoing will be returned to you as part of your winning claim.
How do make a risk free Timeshare Claim
In this chapter, we will discuss the right and wrong way to make a Timeshare Claim.
If you qualify for a Timeshare Claim, you can do this without paying any upfront fees. Our clients only pay us if we win their claim and once the compensation is in their bank account.
Far too many Timeshare owners have lost money trying to make a Timeshare compensation claim. Follow these tips to make sure you don't join them!
- Always choose a regulated company to make your claim.
- FCA and SRA claims management companies, have to abide by procedures that protect the consumers interests.
- Never pay any upfront fees to make a Timeshare Claim.
- Choose a regulated No Win No Fee company to make your Timeshare Claim.
- Do not use marketing companies that 'pass' on you to third party companies. If they are unable to process the claim themselves, they are not qualified to assist you.