posted 14th February 2024
The simple answer is YES. Thousands of timeshare owners have already received compensation, and the banks will pay millions more this year. However, only timeshare owners that paid by finance are eligible. There isn't a financial mechanism to claim back payments made by bank transfer.
Depending on which timeshare company you purchased your timeshare from, and the payment method will dictate whether you have a viable claim. The key to a timeshare claim is determining who will pay you if you win. The only way to guarantee your money is if you are claiming the compensation and settlement from the finance company that funded your purchase.
Making a direct claim against a company such as Club La Costa is a waste of time as, like most timeshare companies, it has closed down. Winning a claim in principle through the courts in Spain is easy; what matters is actually receiving the money.
As such, if you live in the UK and took out a finance agreement to fund your timeshare purchase, the best way to increase your bank balance is to make a claim against the relevant bank. Finance agreements issued by banks in the UK are subject to protection by the 1974 Consumer Credit Act.
We are experts in the technicalities of consumer credit claims. Our expert team has won millions in timeshare claims, and 2024 is set to be the biggest year on record. If you want the best advice and the best chance of winning your claim, get in touch.
