posted 21st November 2023
There are two types of timeshare debt: maintenance fee debt and loan debt. If you speak to the wrong people, both problems can prove difficult to resolve.
Cancelling your maintenance fee contract could save you thousands of pounds. But only when done correctly. Most people's experience of trying to get out of their contract has led to them becoming the victim of a scam. This can be easily avoided by reading the below instructions or watching the short informational video.
Never Pay Upfront Fees
We have taken the risk of cancelling your timeshare contract and maintenance fees by providing a 100% No Upfront Fee Service. We help thousands of timeshare owners who have become victims of a timeshare exit scam every year. Not all these people have been cold-called, but it has still left them out of pocket. Unlike most industries, the timeshare industry is unregulated and, as such, is a minefield of hazards.
Contact Your Resort/Exit Fees
Some timeshare resorts allow you to walk away from your timeshare for free. Others, however, will ask you to pay an exit fee. This exit fee is contingent on your existing maintenance being up to date. Exit fees charged by resorts can vary. In our experience, the average exit fee equals three years of maintenance fees. If you have an American timeshare or an Escatura, you will also need to use the services of a public notary in the UK. These fees are on top of the exit fees and range from £1500 to £5000. Before proceeding with your resort, contact us to see if we can beat your existing offer or check if you qualify for compensation.
Timeshare Exit and your Compensation Rights
It is also important to note that in light of the recent decision by the Financial Ombudsman Service and the High Court, you may qualify to receive compensation. If so, you must not sign away your rights to a claim. Exit documents from timeshare resorts often contain clauses that prevent you from claiming once you agree with them to exit. Most successful compensation claims also include a free exit.
Timeshare Exit Products
Over the years, timeshare resorts have tried to push timeshare owners into purchasing an exit product that reduces the length of their ownership and expires earlier. This was and is just another way the timeshare industry took advantage of its members. Exit products such as Club La Costa's and Diamond Resorts Fractional Ownership were illegally mis-sold as an investment; if this is what you own, it's essential to speak with us about your compensation.
Contact us for Free Advice
Contact us if you need advice or have any questions. If no free solution is available, we can exit you from your contract without paying any upfront fees.
If you qualify for compensation, cancelling your timeshare typically forms part of the settlement. We are FCA regulated, and all timeshare compensation claims are processed without paying any upfront fees. As such, you only pay us if we win.
For information on how to cancel your timeshare finance, please click here.
