Will your timeshare leave you with a lifetime of debt?
It is possible for timeshare ownerships to be a cost-effective way of holidaying for some people. However, for most people, it just becomes a way of throwing money away.
The first payment in a timeshare ownership is typically a large deposit for the pleasure of becoming a member. Then you will be signed up to a long-lasting payment plan which you will probably end up paying more than double what the initial agreement is for.
As well as these payments for the actual ownership, there are annual maintenance contract fees to be paid. These fees are supposed to go on expenses such as repairs, landscaping and other general maintenance activities.
Many clubs, however, prefer to spend these fees on lining the CEO’s pockets. This has been shown by the accounts of various timeshare clubs. In cases like this, huge increases in maintenance contract fees are unlikely to be spent on improving the quality of the resort but rather on making the developers richer.
After all, there is a reason timeshare has a reputation for being a scam.
These costs add up quickly and you may end up paying the equivalent of a second mortgage or more every month for something that you get to use once a year at best. Many people are not even able to use their timeshare.
A large proportion of Timeshare Help clients have been completely unable to book their holidays, either because they cannot access the website or because the resort is booked during the window they can get away.
If you can’t even use your timeshare, you are just throwing money away. You could likely get much cheaper deals on a last minute holiday so your timeshare just becomes an expensive mistake.
If you find yourself in over your head, unable to afford the payments for both maintenance contract fees and your finance agreement, Timeshare Help could help.
We may be able to terminate your maintenance contract and make a no win no fee claim for your money back. We could also cancel your finance agreement.
Although our services are run separately, you can choose to pursue them all. We are happy to proceed with whatever you, as our client, wants to do.
We are aware that the money you are forced into spending on timeshare can leave you deeply in debt. This can have awful consequences. Most timeshare clubs will have no problem with selling your debt over to a UK debt collector – a favourite being Liverpool-based Daniels Silverman.
We have heard from numerous clients worried they will have their belongings repossessed and potentially even lose their homes. The debt collection agencies used by timeshare clubs are very aggressive and threatening. They are certainly not understanding or willing to hear why you have not been able to afford your timeshare payments.
If you have been targeted by debt collectors because you haven’t paid your maintenance contract fees or other timeshare costs, contact Timeshare Help. We may be able to get you released from your timeshare nightmare.