posted 9th November 2024
Have you contacted or been contacted by a company or organisation that provides Timeshare Advice? Did the timeshare advice centre around outstanding maintenance fees or compensation? Did they cold call? Did they recommend a third party? Was it a Zoom call or a house visit? Did it feel like a timeshare presentation? Are they unregulated? Did they ask you to pay upfront fees? If so, you need to read this article. The information in this article is based upon testimony from many of the victims we have helped recover from these scams.
Firstly, let's address the 'elephant in the room': Why should you trust the information in this article? Every year, we provide thousands of hours of free advice and guidance to timeshare owners, help them avoid scams, help them recover their money, and provide a safe and secure process to enable them to exit their timeshare or make compensation claims without financial risks. We are authorised and regulated by the FCA and have provided no upfront fee services for the past ten years. We do not cold call, and like most timeshare advice companies, we do not put you in touch with dubious third parties that provide unregulated advice.
The Warning Signs.
Based on our firsthand experience, insider knowledge, and thousands of complaints from victims, the advice below should raise a red flag and help you avoid losing your money.
Cold Calls
We can guarantee that if you are about to pay a company that you were either cold-called by or referred to by a third party, the information you have received regarding the status of your timeshare or compensation claim is incorrect. You have or are about to lose the upfront fee they have asked you to pay.
Google Adverts
Have you clicked on an advert on Google, filled in your details and been called back by a company that said they can help? If the company you have spoken with, generally by way of a three-hour Zoom call or house visit, is not directly regulated by the FCA or SRA (which is easy to check), and they have asked you to pay upfront fees, you have been given the wrong information regarding your timeshare status, and you have or are about to lose your money.
Internet Search
Have you done your own research on the internet, been swayed by reviews, testimonials and examples of successful claims, and contacted who you believe to be a reputable company? If so, we can guarantee that if the FCA or SRA doesn't directly regulate that company and they tell you that they work 'with' a company that is FCA or SRA regulated and you have then subsequently been asked to pay an upfront fee to make a compensation claim or conduct a timeshare exit, you have or are about to lose your money.
Important Tip
Compensation claims are legally restricted to only FCA or SRA-regulated companies. As such, Banks and finance companies will only deal with registered companies. Therefore, if you give money to an unregulated 'sales and marketing' company, they will just pocket your upfront fee. We have been actively reporting these companies to the FCA and authorities who are conducting their own investigations.
Appointment and Sales Pitch
As with a timeshare presentation, the representative knows they will ask you to pay an upfront fee, so they know they will need to do a lot to convince you. The rep in front of you is being paid a commission if you agree to proceed, so they will do and say anything to extract your money. The modus operandi is to gain your trust by making small talk and using either a carrot or a stick to lure you in. In many cases, the salesperson's attitude will change and become aggressive and pressuring if you say no.
You need to ask yourself
If the company they are working for thinks you have a genuine claim with a good chance of success, why are they asking you to pay upfront fees? Or why are they worried about payment if they provide the requested timeshare exit services? The timeshare industry is one of the most untrusted industries on the planet, so would you risk paying upfront fees, especially for unregulated advice?
Authorised and regulated firms such as ourselves deal with various consumer claims and legal disputes and have never needed to charge any upfront fees for timeshare relinquishment or compensation claims. Our success has been based on successful outcomes, reflected in our longevity and reputation.
The 'bait and switch' or 'third party' timeshare scam
Many mainstream timeshare exit and claim companies make their money by acting as a 'go-between'. Unregulated companies market that they are highly successful in claiming compensation when, in actual fact, they are unable to process claims due to not being regulated. Their selling point is that they are 'associated' with regulated solicitors who will process the claim. The 'go-between' will pocket your upfront fee and then pass your claim to their regulated entity.
The dangers
The dangers of using an unregulated 'go-between' are that you will receive false information from a salesperson who isn't interested in the outcome of your claim, only their commission! It is unnecessary to pay upfront fees when you can make the same transaction with a regulated entity on a no-win, no-fee basis. In a recent conversation between a client and one of our team members, the victims were told by a 'go-between' company that they qualified for £36,000 in timeshare compensation from a timeshare they purchased in the 1980s!
Light at the end of the tunnel
Don't fret—genuine solutions exist to cancel your timeshare and claim compensation. Our cost-effective timeshare relinquishment service doesn't require upfront fees. We'll legally cancel your timeshare contract and invoice you our pre-agreed fixed fee upon completion.
Our timeshare claim department will check if you qualify for compensation; if possible, you'll only pay us if we win.
If you have any questions or need help, get in touch.
