posted 5th June 2023
As with all genuine timeshare claims companies, there are never any upfront fees to pay. Genuine timeshare claims companies, like ours, only take a fee if the claim is successful and once the money from the successful claim has gone into the claimants bank account.
This "crystal clear" claims process takes away any doubt that clients may have when claiming compensation for a mis-sold timeshare. Many of you will be aware that 99% of successful timeshare claims are settled by the banks that funded the purchase of the timeshare. As such, only regulated companies like us, are legally able to carry out these types of claims.
What Fees do I Pay if I Win my Timeshare Claim?
The amount that you pay if your timeshare claim is successful depends on if it is submitted under "Section 140A" or "Section 75" of the consumer credit act. The industry standard for "Section 140A" is 30% plus vat and "Section 75" is dependent on the amount that you receive back. The Financial Conduct Authority launched a claims management fee cap in March 2022. The following table shows the rates and maximum fees for "Section 75" claims.
Redress Bands
| Redress Obtained | Max Rate of Charge % | Max Total Fee |
|---|---|---|
| £1 to £1,499 | 30% | £420 |
| £1,500 to £9,999 | 28% | £2,500 |
| £10,000 to £24,999 | 25% | £5,000 |
| £25,000 to £49,999 | 20% | £7,500 |
| £50,000 to n/a | N/A | £10,000 |
An Example of our Clients Recent Winning Timeshare Claim
This following example is what one of our clients who owned with Silverpoint/Club Paradiso in Tenerife has won. This claim was submitted by way of "Section 140A". Our timeshare claim clients that own with Club La Costa and Diamond Resorts also have their claims settled in this way.
| Club Paradiso/Barclays Account | Redress |
|---|---|
| Refund of Payments | £30,299.56 |
| 8% Interest on Payments | £8,759.51 |
| Refund of Maintenance Fees | £850 |
| 8% Interest on Maintenance Fees | £198.52 |
| Total Redress | £40,107.59 |
If you would like someone to check how much timeshare compensation that you are owed, get in touch. Our no obligation claim check service is free of charge. If you decide that we are the company for you, we will submit your claim without the payment of any upfront fees.
It's important to remember that timeshare clams have a limited 'shelf life', as such there is a distinct possibility that by not checking as soon as possible could result in your claim becoming 'time-barred'.
