29 Jul TIMESHARE COMPENSATION CLAIMS
What You Need To Know About Timeshare Compensation Claims
Since the timeshare companies are undeniably strong, you need a precise understanding of the timeshare compensation claims, as a timeshare contract owner. This article is the ideal compilation of all the things you need to know about Timeshare Compensation Claims, from what it is, how it works, the issues with the claims, to how to get your money back, and how to legally exit a timeshare contract.
Read on to get acquainted with all the information before putting a case against a timeshare compensation reviews company.
What Is a Timeshare?
A timeshare is a form of shared ownership, where buyers purchase the right to use a unit of real estate over a particular period of time. It’s a model of vacation real estate in which multiple purchasers buy rights of usage on the same property. Timeshare applies to various types of properties, including apartments, vacation resorts, campgrounds, and more.
Benefits of Timeshare
The major plus side of having a timeshare is that you won’t have to rent a hotel room; you can simply use the shared property. Other benefits include:
- Spacious Accommodations: Unlike hotel rooms, timeshares are mostly spacious apartments with fully equipped kitchens, bedroom suites, and living rooms.
- Luxuries and Amenities: Most timeshares offer onsite amenities like hot tubs, swimming pools, and tennis courts.
- Convenience: Shopping and fine dining are also usually located near the timeshare properties.
- Flexibility and Value: you can book your future vacation resort at today’s prices and have the flexibility to rent out the timeshare space. You also get to choose when and where to travel and the duration of your vacation.
What Are Timeshare Compensation Claims?
Common rules across the European Community will be in place by February 2011 and set the conditions for fair trading in timeshares . However, if you feel like your timeshare purchase or contract has been mis-sold to you, you have the right to claim against the seller. The number of successful claims has been increasing, encouraging more people to make the claims. However, a case must meet certain criteria for it to be acceptable, and for winning against the company.
Successful timeshare compensation claims are making it easier for more people to come forth to seek the freedom and compensation they think they deserve. Some companies also offer legal services for these claims with no-win-no-fee policy representation, if they believe you have a good winning chance.
“If we will be quiet and ready enough, we shall find compensation in every disappointment.” Henry David Thoreau.
How it Works?
Acquaint yourself with the following facts to get a good idea of how a timeshare compensation claim works.
Timeshare Perpetuity Contracts
A Perpetuity Contract is where the contract term is the maximum legal limit, i.e. exceeding or up to fifty years. This means you have a pretty good case for a claim. Additionally, if there is no specific end date in your contract, contact your timeshare lawyer and begin the process.
These contracts pose multiple problems for the future. For instance, since they are likely to exceed the holder’s lifetime, the responsibility falls on the offspring and not everyone can pay. Also, old-age holders cannot use their property but still have to pay and that stress takes a serious toll on their health.
‘Floating weeks’ contracts state that you get to pick a week and book it in advance, in competition to the other timeshare owners. This looks like the company is offering flexibility but in reality, ends up in a messy war between the owners of the property. This is why these contracts are now in the process of being considered ‘illegal’.
Timeshare points are misleading in many ways. The company lures you in with packages termed as ‘exclusive membership clubs’ and purposefully eliminates the word ‘timeshare’. You have to pay a huge sum upfront and the secured dates are far from guaranteed. There have been reports of extremely unfair treatment of the clients, such as companies giving priority to their staff for the timeshare property, or worse, the accommodation simply existed on paper, and not in reality.
If you think you have been the victim of timeshare misrepresentation or if the timeshare was sold to you differently from what it was, you can file for a timeshare compensation claim. If it can be proven, you might get the deserved compensation.
Issues with Timeshares
There are several issues with timeshares and unfortunately, the cons outweigh the pros. Timeshare disadvantages may include:
- Facing extreme difficulties in getting your money back from the selling company;
- Huge costs to maintain the contract since you have to pay whether you use your timeshare or not;
- Massive upfront payments;
- Risk of foreclosure if you are unable to pay;
- Timeshares are extremely hard to sell off, and even if you manage to do that, you are bound to face losses;
- Long-hauled process of getting the contract terminated.
Your First Step to Getting the Compensation You Deserve
Your step to acquire compensation must be geared towards reaching out to our expert timeshare solicitors and get your claim assessed.
Find Out How Much You Could Claim
Search for ‘timeshare lawyers near me’ for a relatively easy timeshare contract cancellation and to find out how much you can claim. Contact us here at Right To Claim for all your enquiries and help processing your timeshare compensation claim.
Why You Should Never Make Your Timeshare Compensation Claim Alone
There are many reasons as to why making your timeshare compensation claim alone is a bad idea; the most important ones are:
A United Front
Trying to beat the timeshare companies at their own game without the support and expertise of timeshare lawyers is a battle you’re sure to lose.
The timeshare compensation claiming process is long and complicated. Juggling between the claim and your other responsibilities is impossible because the process won’t get the attention it requires. To best manage the time issues and speed up the process, a timeshare expert should be hired.
Even though you’re a timeshare partner, you cannot have all the information to win your claim. There could be hidden secrets and clauses that you’re unaware of, but a timeshare lawyer has all the know-how. Hiring help will ensure that you don’t get further scammed during the timeshare termination process.
How to Get out Of Timeshare Legally – You May Also Be Entitled to Timeshare Compensation
You can get out of a timeshare legally on these grounds:
- False Promises: If you find out that the timeshare company made untrue statements and promises regarding your timeshare, like ensuring you that you can resell your contract at good prices, you can file for a timeshare compensation claim;
- Hard Sell: If you think you fell for the hard sell of the company, and have fallen victim to the fake presentation of timeshare contract’s luxuries, or of forced sales tactics, you can file a claim;
- Unfair Contracts: If you end up facing additional costs due to the company’s unfair contracts given to you, you can file a claim. For instance, unfair ‘perpetuity’ or ‘floating weeks’ contracts.
- Breach in Contract: You can also file a claim if the timeshare company has breached their contract in any way;
- Withholding Information: You are eligible for a legal claim if your timeshare seller has purposefully withheld information from you, especially if that information can cause you harm, financial or otherwise.
Once you start the process of trying to get out of your contract legally, you may find out that you’re eligible for Timeshare compensation as well.
People Also Ask
- How can I get my money back from a timeshare?
In the words of Haruki Murakami “What we seek is some kind of compensation for what we put up with.”
In most cases, it’s almost impossible to extract a refund from a timeshare company. One way to ensure that you get your money back is to cancel the contract within the recession period. Nevertheless, it will take good effort on your part; you may have to return the contract by hand and persuade the company to sign and date it. You will have to be persistent in making calls, sending letters, and providing certified documents to the respective organizations to get your money back. Submitting a ‘Section 140’ timeshare claim could also be fruitful in your case. timeshare compensation
- Do timeshare companies take legal action?
The short answer here is, yes. If one of the timeshare partners decides that they no longer feel like keeping up with the high maintenance fee of the contract, for whatever reasons, the company will most likely take legal action. Resort timeshare developers can take legal and financial action against timeshare owners attempting to leave their interests. However, companies might not take these actions as severely as some consumers are led to believe.
- How do I complain about my timeshare?
If you think you have been wronged by the timeshare company, or if the company’s behaviour seems unethical to you, you can complain about your timeshare by contacting the following departments:
- Your individual state’s Department of Real Estate (if certain real estate licenses are involved);
- Federal Trade Commission;
- The State Attorney General of your state;
- Any local Better Business Bureau or the BBB online.