Timeshares!

von1

Hi there
just wondered if anyone knows anything about how to get out of these! My parents bought one about 20 years ago and are stuck with paying maintenance fees over £300 a year. They are constantly pestered by people wanting to sell the timeshare for them........one telling them this morning he can do this for them but it will cost them £5500!!!!! Please! But they almost fell for it until talking to my sister and I.
They were also told they can't just stop paying the maintenance as the company can take them to court.
They don't want to go to court (despite being mis-sold the timeshare) because they are getting on and cant face the hassle!

Any advice would be much appreciated?
thanks
Von

darkspanner

von1 wrote: »

Hi there
just wondered if anyone knows anything about how to get out of these! My parents bought one about 20 years ago and are stuck with paying maintenance fees over £300 a year. They are constantly pestered by people wanting to sell the timeshare for them........one telling them this morning he can do this for them but it will cost them £5500!!!!! Please! But they almost fell for it until talking to my sister and I.
They were also told they can't just stop paying the maintenance as the company can take them to court.
They don't want to go to court (despite being mis-sold the timeshare) because they are getting on and cant face the hassle!

Any advice would be much appreciated?
thanks
Von

Don't no if you have managed to sell your timeshare yet but I have managed to give mine away if this is any help?

costapkt

von1 wrote: »

Hi there
just wondered if anyone knows anything about how to get out of these! My parents bought one about 20 years ago and are stuck with paying maintenance fees over £300 a year. They are constantly pestered by people wanting to sell the timeshare for them........one telling them this morning he can do this for them but it will cost them £5500!!!!! Please! But they almost fell for it until talking to my sister and I.
They were also told they can't just stop paying the maintenance as the company can take them to court.
They don't want to go to court (despite being mis-sold the timeshare) because they are getting on and cant face the hassle!

Any advice would be much appreciated?
thanks
Von

A warning to anyone trying to get rid of their Timeshare. If you are cold called by anyone saying they can sell your Timeshare (usually for a fee ) it will be a scam. If you are invited to a meeting to sell your Timeshare it will also be a scam. These type of schemes are ones which you are expected to pay or join another type of Holiday Club etc.

If you are worried about the maintenance fees, just stop paying them and call their bluff. Have not seen any one taken to court yet, but correct me if I am wrong.

Seems the only way to get rid of a Timeshare is to give it away.

topoff28

We brought into Diamond Resorts(formerly Sunterra) and over the last 5 years have had some really good holidays staying in really luxurious hotels. But unfortunatly being self-employed in the building trade the recession as hit and my business has gone and now find myself looking for work. This is now causing problems and like many have to look at ways of cutting back, holidays being one of them,I recently contacted Diamond Resorts to explain my problem and asked if it was possible to relinquish my membership only to find that this is impossible and was told that we had to pay our annual maintenance fees (now £875.00 per year and rising) or we will be taken to court. Soon our outstanding balance will be £1750.00. Has anyone else had or having this same problem?

costapkt

There is a Diamond Resort thread on here (praise vent & warnings ) But for more info go to the Timeshare Consumer Association site (TCA ) or try Timesharetalk Forum.
You can ring the TCA and they should be able to give you advice.
A lot of Timeshare firms are threatening taking people to court through non payment of maintenance fees, but have any done so ? I know mine did'nt.
Anyway have a look at the above sites should get plenty of info there.
Beware of scammers as I have mentioned in previous post.

Good Luck.

katieclampet

A friend of mine bought into one of these holiday timeshares, with a points scheme, about 10 years ago. She has been trying to get shot of it for the last 2 years, with no luck. Apparantly the company will buy it back, but that costs a fortune. However the yearly fees are going up, and I know she is struggling to afford it.

Sorry, just realised this post is no help at all to you, sorry!!

katiex

costapkt

katieclampet wrote: »

A friend of mine bought into one of these holiday timeshares, with a points scheme, about 10 years ago. She has been trying to get shot of it for the last 2 years, with no luck. Apparantly the company will buy it back, but that costs a fortune. However the yearly fees are going up, and I know she is struggling to afford it.

Sorry, just realised this post is no help at all to you, sorry!!

katiex

Just tell her to stop paying the fees, simple.

Janks

topoff28 wrote: »

We brought into Diamond Resorts(formerly Sunterra) and over the last 5 years have had some really good holidays staying in really luxurious hotels. But unfortunatly being self-employed in the building trade the recession as hit and my business has gone and now find myself looking for work. This is now causing problems and like many have to look at ways of cutting back, holidays being one of them,I recently contacted Diamond Resorts to explain my problem and asked if it was possible to relinquish my membership only to find that this is impossible and was told that we had to pay our annual maintenance fees (now £875.00 per year and rising) or we will be taken to court. Soon our outstanding balance will be £1750.00. Has anyone else had or having this same problem?

We are currently having a problem with timeshare at CPO in Portugal through Petchey Leisure. We have tried to rent/sell without success and have asked them to take it back. They have now told us that we have two weeks to pay or we will be taken to court. Have you managed to get a good result?

costapkt

Call their bluff. Do not pay.

mobby-2554

katieclampet wrote: »

Apparantly the company will buy it back, but that costs a fortune.

I don't understand with points,what are they actually buying back?

I know with my timeshare apt the company would be made up if I walked away. They'll just resell it.