Here at Mercantile Claims we have the pleasure of helping over 6,500 clients terminate their timeshare burdens. Many clients have experienced years of worry and stress due to their timeshare purchase. It is extremely rewarding to be able to help so many clients through what can be a very difficult time, both financially and psychologically.
Today, we have the pleasure of sharing with you yet another resolution of a successful mis-sold timeshare, claim for compensation. Our client has been awarded a total refund of £9,175.93; a wonderful result for a family desperate for a resolution.
Our client in question purchased their timeshare in 1998 and first bought a biannual week. They were told that they would receive transfers from airports as part of the package, something they thought would be greatly needed, as one of them was registered blind and they also had a small child to care for. This extra assistance never materialised and in 2002 the couple, unhappy with the level of service received so far, purchased an ‘Investment Week’ through RCI. They were told that the company would sell their original timeshare from them and they would make a profit. This turned out to be a scam as it never was sold, in addition the timeshare resort pursued them for maintenance fees.
In 2004, the family attended another presentation and were told the company had been taken over and the only way forward was to swap from owning a week to a points-based system. They were told this would give them more flexibility when booking and more choice. This cost the family an additional £2,300, but they were convinced it was the best option for them, as they were locked into the timeshare and the maintenance fees anyway.
They did manage to book some holidays, but they were never at the times or places they wanted to go and they were left with making the best out of a bad situation.
The couple continually complained about the lack of availability, but were told they needed to purchase more points to get what they wanted. By this time, our clients had become totally disillusioned with the whole process and, despite sitting through hours of sales presentations, refused to buy any more points.
In 2009, the couple were persuaded to attend another presentation, as Diamond Resorts had taken over the company and they had new, better offers available. They quickly realised that if they purchased additional points, they would simply be pouring more money into a system that did not work for them and so they refused.
“This has been the worst purchase we have ever made because, although we have had some holidays, we have never really gone where we wanted at the time we wanted and the help we were promised because my wife is registered blind, never happened”.
“Every time you go to a resort, you are asked to attend an update meeting and given an incentive to attend. These always last for at least 3 hours and far from listening to your concerns or updating you they are just interested in selling points telling you the ‘Chairman’s Offer Of The Day’ and giving you a free breakfast. You are always told that the price of the points is going up but if you buy today you will get them at a special reduced price”.
In 2014, the couple attended a presentation and were informed of a new system called ‘Fractions’. They were told they would own part of a property for a week along with other members and, after 15 years, these properties would be sold and the couple would make a healthy profit. They were also promised they would be released from their contract in perpetuity, something they were very concerned about, as they did not want to hand this burden to their children.
After a lengthy presentation, persuading the couple this was a great investment and would solve all the problems they had experienced so far. The couple bought into the fractions system at a cost of £7,220.
The maintenance fees continued to rise in the years to follow at a rate which far outweighed the cost of booking individual holidays themselves. The fees went up as the standard of accommodation went down. The company called this accommodation 5 star, something Booking.com and Expedia disagreed with, rating the accommodations as only 3 star !
To add further insult to injury, having paid over £7,000, they found their accommodation was available online for less than they had paid.
The problems continued for our clients until finally they had had enough and contacted Mercantile Claims to help them pursue a money back claim.
“If we could go back in time would we get involved in a floating timeshare? The answer is definitely not ! None of the promises that were made have been fulfilled. When we have questioned the system, we have been told lies and never been able to obtain anything other than promises that things would improve”.
We are delighted that our clients no longer have the anxiety of being shackled to their timeshare burden. They have also received their money back plus interest. A wonderful conclusion for the family and an end to years of stress and false promises.