2008 Mis-selling Regulations
Were you affected by a breach of the 2008 Mis-selling regulations?
Let's find out.
On the previous page we discovered what constitutes a breach of the 2008 mis-selling regulations. Point x says the following:
'For example, if a garage has signed up to the Motor Industry Code of Practice for Service and Repair, failing to follow it could constitute a breach of the Regulations.'
Some of you will own timeshare with companies that are members of the RDO. The RDO has a Code of Conduct.
The RDO Code of Conduct says:
2.2 RDO Members will in particular ensure:
2.2.1 Appropriate marketing techniques that make it clear what the object of the approach to the consumer is;
Our View
- Where you advised that the presentation would take over 90 minutes ?
- Where you advised that you were going on a presentation to elicit the sale of Timeshare?
- Where you advised that you had to make an on the day decision ?
2.2.2 Appropriate selling methods that treat the consumer with respect and allow the consumer choice between purchasing and reflection.
Our View
- Where you kept at the premises for hours on end?
- Where you given the 'hard sell'?
- Where you told the offer was only available 'today'?
- Was the price reduced every time you said 'NO'?
- Were you allowed to go away and think about the deal?
2.2.3. The provision of any necessary assistance to consumers to enable them to make an informed decision.
Our View
- Were you contacted by the finance provider to assess the affordability?
- Were you granted time to seek independent advice?
3. Principles for Ongoing Protection for the Consumer
3.1 In order to be able to deliver the contracted products and services RDO Members will ensure that adequate legal structures are in place. For any product or service, where the contract is of a long duration, such structures need to ensure adequate longevity and in the case of service contracts that the specified service can be delivered for the duration of the contract.
Our View
- Where you sold your timeshare as an investment?
- Where you told that you had to upgrade in order to elicit a resale?
- Where you told that you had to upgrade in order to reduce the length of your contract?
- Where you told that you were on the rental programme?
- Where you unable to book a holiday?
Did the Timeshare company fail to deliver what you had been sold?
3.2 Members who undertake the contracts which support or supplement such legal structures will do so in a manner appropriate to enable their contracted products and services can be delivered throughout their contracted period, and in compliance with their contract terms
- Has your ,or part of your Timeshare Company gone into liquidation?
- Has your maintenance fee gone up more than inflation rates?
- Have the services that you were sold been fulfilled?
If you have answered yes to any of the above questions then the Timeshare company has broken their own code of conduct . As such , under the 2008 mis-selling regulations they have broken the law.