Timeshare became popular in the 1960’s and its form of holiday ownership that gives customers the right to use a certain property for a certain period year on year. Although this sounds like a dream, a guaranteed holiday every year, it may not be choice that makes the most sense. You can holiday for a week, lounge by a pool, but you may be hit with never ending massive bills every year! The timeshare option can become an inescapable financial bind. The contract is almost always binding as well, so if you want to be rid and cannot find someone to pass your timeshare onto or sell it, you are likely stuck. The problem is that timeshare is notoriously difficult to sell on, there are various websites that offer help and will let you offer your timeshare for sale; however, it is often a saturated market and it can be time-consuming, frustrating and costly to market your timeshare and find interested parties.
Timeshare owners who want to find a way out of their contract often do not know who to call on for help. Scarily, the timeshare exit industry is also a little like shark infested waters. There are so many con-artists, scoundrels and snakes who will see people’s desperation, take hold of it and manipulate owners into handing over lots of money for the promise of a service that will never come to fruition. Scammers know exactly who they are targeting, and each transaction can cost consumers £2000 to £3000 and the scammers can earn hundreds of thousands per week!
Like ourselves there are some exit companies out there that can help owners break free from their timeshare contracts; legally, ethically, and permanently. Also, we
work with our customers in a way that’s collaborative and informative. We at Timeshare Lawyer answer our calls, we don’t send people to voice mail, and we communicate regularly. In fact, we are the only company that calls our clients proactively to keep contact going throughout the process. We do this because we understand owners are worried, we hold their hand through the process. Jonathan Briggs, is a former timeshare owner who shared his experiences with TSL, stating that our professional team really took the time to understand his situation, despite technical difficulties, which left him feeling confident that he had chosen the correct firm to assist him.
Timeshare is an incredibly successful business of the 20th century, however, its reputation does keep some potential customers at bay and thanks to huge increasing fees and various unnecessary costs, a lot of timeshare owners are looking for a quick way out. If you use your timeshare or not, you are still tied into a contract and expected to pay the yearly fees and costs. There are also timeshare companies that will pursue for payment if it isn’t made and consumers will be held liable for legal costs as well.
Research has been carried out in relation to timeshare and its consumers according to one particular study, the average daily rescission rate among timeshare owners is fifteen percent. It is no coincidence that this is the same percentage of people who buy a timeshare following a sales presentation.
Dr. Amy Gregory, the assistant professor at the University of Central Florida explained 85% of all buyers regret their purchase with reasons that include
money, fear and distrust. Ninety five percent (95%) go back to the resort and request a further meeting with the sales team, seeking more information about resale, alternative options, and pricing alternatives. Meanwhile, 41% of buyers regret their purchase.
Dr. Gregory stated the biggest factor leading to the owner’s recession is the lack of consistent follow-up from companies after closing a sale; stating, “If you could maintain a dialogue with all those people who walked away, you’d learn a lot, but the challenge is that so many people say no. This year, the timeshare industry reached $10 billion in
annual sales. Of the said amount, $1.5 billion in sales were also cancelled,” she said.
There are so many different, affordable holiday options on the market now that timeshare doesn’t need to be the only choose to make. Timeshare.lawyer would like you to make sure you know what you are getting into before you sign any documents, if you already have and you are trying to get out of your timeshare contract, we hope you did your research before committing to an exit company. If in doubt, please contact us today for a chat and a professional service from start to finish.
See our recent post regarding claiming compensation to enjoy the rewards.