My Thoughts Today.

Every morning I switch on my computer and start looking at the various timeshare related websites, I am amazed at some of the verbal diatribe that many present. The use of language to say the least is appalling, most of the time the content does not even reflect the topic that they headline.

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One site that I looked at today, which shall remain nameless, could not even get the details of their association correct. Rather than saying National Association it stated they were members of a Nation Association. If they can not even get these small facts correct, how can you even trust what they offer?

 

Most at the end of the day are just after your money, they do not really care if you have been wronged. The information given is confusing to say the least. Facts are not given, sources are none existent, and most of the time they are either timeshare industry related or on the periphery.

 

One piece I was reading today was from the Chief Executive of the RDO, in his blog of January 4th 2016, He ranted on about the legal system in Spain, that it had got the laws wrong on timeshare, from how I read it only English law was correct. Mind you, it was in defence of his own industry, TIMESHARE. The industry that his organisation should be regulating and ensuring that its members do the right thing.

 

This organisation only exists to make sure they have a business, the consumer is just fodder for their coffers. Is it any wonder that there are so many claims going through the courts, when the governing body will not even investigate its own members? If they did what they should and what is right, maybe there would not be so much controversy around the industry.

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Timeshare is a sound concept, it is the way in which it is sold that is the problem. All the lies that “UPS” are told on the sales decks, nothing in writing apart from the contracts, which as we have seen from the Spanish courts in accordance with EU Directives on timeshare, are unfair and illegal. How many times have we heard “it’s an investment, you are buying bricks and mortar”. “Your children can inherit it, what a legacy to give them, something they will remember you by”.

Well, who wants to saddle their children with an ongoing and ever increasing debt? This is why the perpetuity contract has been deemed unlawful.

 

Then we have the complicity of the banks and financial institutions, finance agreements made out by the sales staff. Barclays Partner Finance has been a major culprit in this escapade. Finance agreements arranged on the day, by the timeshare sales agents, with none of the usual credit checks made, no checks as to whether the client can afford the loan.

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There is an action being taken in the High Court in London against Barclays Partner Finance, this is being conducted on behalf of Resort Properties clients by Edwin Coe LLP. I am currently awaiting a reply from them as to how the case is proceeding.

 

As far as Resort Properties are concerned, these loans averaged around £30,000. They were made available to clients for the so called “Investment Packs”. These comprised of several weeks of timeshare, with the promise of a substantial return on their investment after 2 years. They were promised a resale as this product was in great demand. In the meantime they would receive an income on the rental of these weeks. Well, as far as I know timeshare should not be sold as an investment.

 

If these promises were genuine, why is there a court action against these loans?

 

Once again we see a timeshare company who is a member of the governing body The RDO flouting the laws and rules, yet the governing body does nothing about it. Maybe it could be that the CEO of Resort Properties is a director of this organisation, with his company paying to finance it.

 

Again the industry is not doing anything to protect the consumer. It only seems to protect its own. If they can not get their own house in order, then maybe it needs independent oversight. The EU has set directives to govern the way timeshare is sold, should they not now enforce these regulations and set up an independent body, free from industry influence, to ensure you the consumer is protected?

 

Only time will tell.time


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