SECTION S140A claims against miss sold loan

blondeangel

Has anyone had dealing with a claim S140A? I've recently found out that my Timeshareis going bust, it was miss sold as investment but later found it to be yet another Timeshare membership

I already had a miss sold usless timeshare and this was sold as a way of clearing the loans
Too late for section 75 as first Timshare started life as credit card. The loans were arranged by sales people over phone. I didn't get enough cooling off time as paperwork only arrived after 14 days when I returned home. I was told I could only cancel when I received papers.


I've spoke to solicitors and they keep mentioning S140A but Martin hasn't covered this. Can I do it myself as the fees are unaffordable with solicitors even on no win no fee it 30%+vat. It would leave me worse off.

boo_star

If they went bust where is the money going to come from to pay this claim?

Brock_and_Roll

OP, your post is somewhat hard to read but I have looked at your earlier posts.

In a nutshell, you are looking to use S140 of the Consumer Credit Act to argue that the loans that were provided to finance the timeshare(s) we not correctly sold. Correct?

Why would you be "worse off" using a no-win-no-fee solicitor who is charging 30% + VAT? Is there a balance that needs to be cleared?

I understand from earlier posts that you are retired and on low income.....is simply walking away/defaulting on the timeshare contract an option? Are you a homeowner?