Timeshare...advice needed urgently!!!

Simran

Not sure if I have posted in the right forum?....

We are in Madeira and (cant believe) we got talked into signing up for a timeshare that we dont need. I paid #800 as a deposit with my Nationwide Visa Debit card. We called the timeshare company asking to cancel the contract (we signed the agreement on 30th March and it said we can cancel the contract within 14 days). They said we have to come in and go over paperwork but did not say we we will get our deposit back.

Nationwide say they cannot reverse a Visa transaction. Does anyone know what rights we have under timeshare regulations (I believe this is governed by Portugal Law but maybe EU We will be in Madeira till Friday.

Many thanks!!

notisis

Take a look here www.timeshare.org.uk but I don't think it applies to visa debit cards only credit. See if you can speak to them for further advice.

Also take a look at Timeshare Act 1992, Timeshare Directive (94/47/EC), Timeshare Regulations (SI 1997/1081)

which states If timeshare is bought anywhere in the European Economic Area (EEA), consumers have minimum rights to protect them against unscrupulous sellers. These are:

• A minimum 10 day cooling off period in which to cancel the contract; in the UK this cooling off period is 14 days.
• Timeshare sellers cannot seek or take deposits prior to, or during, the cooling off period.
• The right to a brochure and a written contract setting out basic information on the timeshare property in the buyers own language.

Also
Q1. If I am sold a timeshare whilst on holiday, what are my rights if you wish to cancel on returning home?
If you buy within the UK, you have 14 days in which to cancel the contract. If you buy anywhere in the rest of the EEA then you have a minimum of 10 days. You should remember not to take any money, credit card or a cheque book with you if you go to a timeshare presentation because the sellers cannot take any up-front money during the cooling off period. If you are not sure or happy about buying the timeshare then you should walk away. You also need to get everything in writing and make sure you read and understand it all - do not allow yourself to be rushed or bullied into signing anything there and then.
Q2. Who do I complain to if I feel I have been pressure sold to whilst on holiday?
If in the UK, you need to contact your local Trading Standards Office (TSO) as they are responsible for enforcing the Timeshare legislation here. If you are overseas at the time then that country's equivalent of UK's TSOs.
Q3. Is there a trade association that looks after the timeshare industry?
The Organisation for Timeshare in Europe (OTE) is a leading trade association which represents timeshare, holiday clubs and resale companies located throughout Europe. All of its members follow a strict code of practice and it also provides a free advisory and conciliatory service for anyone who deals with its members. For information, advice and help Tel: 00 322 533 3069.

Good luck.

NewbieMoneySaver**

Funny you say that, as i', in trouble with seling my Timeshare with a company called Etoo.

Like it says on that website. You need to persist with the bank and dont take NO fo an answer.

We have the right under the consumer credit act 1974.

Keep me posted please.

Cheers.

maninthestreet

NewbieMoneySaver** wrote: »

Funny you say that, as i', in trouble with seling my Timeshare with a company called Etoo.

Like it says on that website. You need to persist with the bank and dont take NO fo an answer.

We have the right under the consumer credit act 1974.

Keep me posted please.

Cheers.

Not if you pay with a debit card.