posted 4th December 2023
Getting out of your Diamond Resorts timeshare ownership is easier than you think. Until Diamond Resorts was exposed as one of the two companies that were part of the 500 million pounds fractional ownership misselling scandal, they would enforce the payment of maintenance fees through a collection agency known as Daniels Silverman. This course of action is no longer viable for them, and getting out of your Diamond Timeshare contract is much more straightforward than ever. In some cases, you may even be able to walk away from it for free. Follow the below steps to ensure you legally exit your contract and don't become a victim of a timeshare exit scam.
1. If you own a Fractional membership with Diamond Resorts, we can claim your money back through the finance company that funded your purchase. This is most likely Shawbrook Bank or Barclays Partner Finance. The Financial Ombudsman Service (FOS) ruled that Diamond Resorts had illegally sold the Fractional membership as an investment. Despite a challenge from the Banks to overturn this decision, on the 5th of May 2023, the High Court in the UK doubled down on this decision, meaning that consumers can claim their money back through the Bank that financed their purchase. Successful claimants will have their membership and maintenance fees cancelled as part of the settlement.
2. If you own a fixed week or Diamond Points and don't qualify for compensation, your first port of call should be contacting Diamond Resorts. Depending on your age, medical and financial situation, Diamond may let you cancel your membership for free. In some cases, they will ask you to pay an exit fee. This fee is usually the equivalent of three years of maintenance fees. Because many Diamond Resorts members have huge maintenance fees, this exit fee is often unaffordable. If so, contact us; our exit fees are usually less, and no upfront fees are payable. No action is necessary if you haven't paid your maintenance for six years or more. You are outside the statute of limitations, and no legal action can be taken against you. Ensure you check with us regarding potential compensation entitlements before exiting your contract.
3. Contact us if you need clarification on the best course of action to take. Our advice and guidance are free of charge. The main course of action to avoid is paying upfront fees for timeshare exit and claim services. 99.9% of timeshare claims companies will give you the wrong advice. This advice is centred around encouraging you to pay them an upfront fee. The most common scam members are falling for is that Hilton are taking legal action for unpaid maintenance fees. This is untrue and a scam. We are regulated by the Financial Conduct Authority and all of our services are without the payment of any upfront fees. For free help and advice, get in touch.
