A tale of how timeshare owners have suffered at the hands of a greedy industry and how the tables could now be turning
THINK BACK 30 YEARS to the early 80s, and the chances are that a mix of luminous clothes and Margaret Thatcher come to mind. The decade was also the start of the timeshare boom, and all over the world timeshare resorts were springing up offering superior quality accommodation compared to conventional package holidays.
Timeshare property was an attractive proposition partly because of the financial logic of owning a share in a holiday property for a one-off payment and only a small annual maintenance fee (typically less than £100 per week) which was then far less than what package holiday accommodation would have cost. And the exciting bonus was that you could exchange your ownership for another luxury resort anywhere in the world through specialist timeshare exchange networks.
In the early days, while timeshare wasn’t for everyone, the families who used their resort every year, or those who were able to achieve successful exchanges, actually found that it provided a flexible and practical quality holiday option.
Thirty years on and things are very different today. Many timeshare owners are now faced with a troublesome property that could be very difficult to sell, with financial obstacles being put in the way of cancellations and transfers. Some owners feel that they are trapped by demands to pay high annual maintenance fees for something they don’t even want any more. Even charities turn down gifts of timeshare weeks because of the associated potential ongoing liabilities.
Many timeshare resorts are now run down and look as though they have not been updated since the 80s. Meanwhile the hotel industry has been revitalised with luxury hotels opening up on the doorsteps of timeshare resorts, and offering similar or even superior quality accommodation for a lot less than the resorts’ annual maintenance fees. To compound the misery, the exchange systems that were once well managed to satisfy the destination requests made by timeshare owners have since been manipulated, resulting in many owners failing to achieve a fair and balanced exchange year after year. For those owners who have found themselves trapped, or who have suffered distress, there has been no respite. That is until now.
TIMESHARE OWNERS BITE BACK!
The International Timeshare Refund Action (ITRA) was launched more than four years ago and has, with the support of its members and sponsors, invested over £1m in pursuing financial restitution on behalf of timeshare owners, both past and present, who believe that they may have been fraudulently misrepresented in the purchase and ongoing use of their timeshare or points. ITRA is now inviting all owners who believe that they were deceived to join its action group.
There is no upfront payment requirement and it is not necessary to even appear in court. There is absolutely no risk and all claimants can be pre-qualified FREE online from the comfort of their armchairs. This is a NO WIN NO FEE action and an agreed percentage will be deducted from any awards only after the case is won. This fee is to cover in full the insurance risk to the funders and all the legal costs.
POTENTIAL CLAIMS INCLUDE:
- Problems with obtaining a selected balanced exchange from exchange companies.
- Year on year escalating maintenance fees from the resorts (way above that of inflation).
- Exorbitantly high interest rates charged by finance companies introduced by marketers.
- Restrictive practice and breach of contract in relation to the surrender and transfer of unwanted timeshares and points.
If you are, or have been, a timeshare owner and would like to find out if you could qualify to claim compensation by joining thousands of fellow timeshare owners who have already registered their claims, call +44 800 856 0905 or register for free online. For full information, visit www.itra.net
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