Many timeshare owners know what a time sharing scam really means. There are different ploys and dirty tricks how to get your money for overrated property and services. But did you know that there is a legal way how to return even 100% of your time sharing purchase price back if it happens in European Union! Background in all EU member states is European Directive on time sharing contracts (94/47/EC). Directive defines provisions concluding time sharing contract. If at least one of these provisions is violated you have rights get your money back!
The Directive requires obligatory conditions and minimum information for any time sharing contract. If at least one of them is broken or information not included, your consumer rights are injured and you can require your money back! Here are these important conditions:
1) 10 days cooling off period – time when you can cancel the contract without any explanation why and get all your money back;
2) NO deposit on or during the cooling off period;
3) You must be not misrepresented or mis-sold during the purchase presentation;
4) Finance agreement, which you signed up, must be not misrepresented during the sales presentation;
5) You must be not mis-sold over the rate of maintenance yearly costs;
6) You must receive all relevant paperwork and information of your purchase within the first 3 months of your membership.
Besides that, every time sharing contract most contains such minimum information like:
1) Name, address and legal form of the provider and the owner;
2) Description of precise right of use you are getting and to what;
3) The price and all other charges which you must pay (services, maintenance, taxes, etc.);
4) The scheduled completion date if the property is still under construction (planning permission, gas, water, electricity, swimming pool and other facilities);
5) Details of the management, maintenance of the property, servicing, repairs and administration;
6) Is there a system for exchange or resale and the associated costs;
7) Full details of the cooling off period you have after signing including the names and addresses of any persons to whom a withdrawal notice can be sent and details of how to cancel or withdraw from the contract.
If you see that your consumer rights are injured you need to prepare claim for the court. You can submit the claim in any EU country wherever you live. If the country where time sharing company is registered has more favorable legislation for you, your lawyer can recommend raising claim there.
There are exceptions when the directive does not work. Regulation only applies to the contracts with a minimum duration of 3 years. Your rights to use holiday property need to be at least 1 week a year. To get round the directive, some time sharing companies form themselves as “holiday clubs” – organizations which offers discount on luxury accommodation. In this events the directive don’t protect a customer.
Only professional lawyer/advocate with an experience on timeshare area can help you. Browsing the Internet you can meet with a lot of time sharing scam solution companies. Be careful! If you’ll research more detailed, you’ll see that these companies are daughter structures of mother time sharing company.
A timeshare scam solution service often is just one more dirty trick how to get the money from you by playing with your anger and determination to solve the problems. For example, you can read that company offers no win no fee basis. In fact, this company is just a mediator between you and the lawyer.
After signing the contract you’ll need to pay for all legal service but no win no fee basis means that on the case of success, company will have part of your refund money as extra bonus. Sign the contract with advocate directly! All legal expenses which you pay will be refunded after winning the process.