Today’s successful claim highlights another great problem we see in the timeshare industry and that is the issue of upselling customers. Not always a bad thing, it gives customers the opportunity to upgrade or change their memberships, accordingly, provided it fits their needs and is affordable. The problem with timeshare is that for some customers that may be satisfied with what they have purchased, they are then persuaded into spending more money for something they do not want and don’t need.
In 2014 our clients arrived at their resort to utilize their membership just as they had in previous years. Whilst checking into the resort they were invited to attend a meeting to update them on their purchases they had previously made, which were sold to them as investment opportunities.
Our clients were keen to see how their investments were going so they agreed to attend the meeting, which they believed would be a ‘brief update’. Unfortunately, this turned out to be false and what was meant to last 30 minutes, continued for several hours and took up nearly an entire day of their holiday. During this meeting, our clients were forced to sit through another high-pressured sales presentation about investing even more money. Incredibly they informed our clients that their previous investments had not been going as planned and they had been unable to sell their timeshares as promised and they were unlikely to sell at all. Our clients were understandably upset by this news and wanted to know how they could get their money back. The representative told them the only way they could re-coup any of their money was purchase another timeshare at a new resort and then they would be guaranteed £45,000 returned to them when it was sold.
The meeting continued and the representative even brought out a manager to confirm that this new deal was the only way to proceed so they would see a healthy return on their investment. They explained that after 6 months the sales process would begin, and a sale would be completed quickly, and this was the only option to ensure they would not lose the money they invested in the first place. Feeling completely at a loss and with little other options, our clients agreed to pay £30,000 to the resort. It was not until sometime later that our clients decided to seek some outside help and after another failed attempt to deal with the resort, they contacted us at Mercantile Claims. It was clear to our expert team here at Mercantile that our clients were mis-sold their timeshares and they were not investments at all instead they were given false information purely for the resort to make money and defraud people. Luckily, we have been able to successfully argue their case to the credit provider and reclaim all of their money plus interest.
People who enter into timeshare agreements often find it difficult to keep up with the mounting maintenance fees and simply cannot afford it any longer. They may also find that the timeshare no longer suits their needs and simply want to end the contract. There are too many individuals who are willing to take advantage of timeshare owners and offer fake products, along with timeshare exit schemes. Before agreeing to any timeshare termination or exit procedure with an individual or company, seek independent advice and fully research any company you are thinking of working with.
It is also important to remember that purchasing a timeshare should NEVER be viewed as a financial investment. Timeshare is an investment in lifestyle, in future holidays and family time together. There is almost no resale value to a Timeshare.
The mis-selling of holiday products is, unfortunately, common practice within the holiday industry and these types of crimes often goes unreported by the most vulnerable in our society and criminal convictions are few and far between.
If you have purchased a Lifestyle / Concierge Service, a timeshare or a ‘holiday points’ based product from a resort or company and feel unhappy with the service, or feel you have been mis-sold this product, please get in touch with us to discuss how we may be able to help you with a possible Money Back Claim.