Leisure Credits – Cooling Off Periods

In its report dated 16 December 2015 the European Commission reported its concerns regarding the increasing sale of short term holiday products and Leisure Credits, which are problematic as they may not be covered by the Timeshare Directive and, as such, you will not have cooling off rights.

Caveat emptor (buyer beware) cannot be expressed strongly enough in regards to any holiday product that does not come with a 14 day cooling off period.

The industry at present is developing alternative products such as Leisure Credits. As such, consumer TV and Radio programmes are reporting on this subject with increasing frequency. I have discussed these problems during the course of recent radio interviews on BBC 5 Live and Talkradio.

I have also posted about this topic recently. The problem is not necessarily Leisure Credits but how some companies are selling these products.

Please be extremely vigilant if you are contacted by a company offering to help you sell your Timeshare, particularly if there is any reference to ‘upselling’, or purchase of Leisure Credits.

Be aware that if they appear to have specific details regarding your Timeshare, and / or other personal details, this is no evidence of reputability.

If you are promised a “legal termination” of your timeshare as an ancillary benefit you should enquire who will be acting for you. There are companies in existence purporting to be staffed by fully qualified solicitors, when in reality they are paralegal staff, at best underinsured and at worst not insured at all. Further they are not qualified and in reality are little more than administration staff churning out standard letters. If you are contacted by a company, undertake careful research; websites can be set up easily and cheaply. It is always prudent to check out a company’s authenticity with Companies House, although this is no guarantee as an off the shelf company can be purchased relatively cheaply.

As stated in my previous article, if you do decide to purchase Leisure Credits, wherever possible pay by credit card, even if it is just the deposit, so you can claim under section 75 of the Consumer Credit Act 1974 if things go wrong. Please note that lenders may attempt to avoid responsibility by putting you to proof, hence the importance of requesting that any promises and / or guarantees are confirmed in writing with clear intent. In addition, please be aware that payments made by PayPal are not covered under section 75 of the Act.

This is a high complex legal area, subject to continual change. We would advise you seek advice from a specialist timeshare lawyer to ascertain what applies to your particular circumstances.

Your specialist Timeshare Solicitor

Having represented hundreds of timeshare owners over the years, I have extensive experience helping to release clients from inherently unfair and unenforceable timeshare contracts, and bringing claims connected and/or arising from the sale of timeshare and similar products.

I have acted for clients in connection with contentious matters for over 15 years, and have frequently taken cases to the High Court and the Court of Appeal and represented consumers in Group Actions. With a network of barristers and lawyers in other jurisdictions I ensure that my client’s rights are robustly defended.

If you are trapped into a timeshare you no longer want or can afford, or are concerned about inheritance, or feel that you have been the subject of a resale and/or exit scam I offer a free, initial consultation to go over the details of your particular circumstances and advise you on whether your particular timeshare is capable of being terminated and if you have an entitlement to financial compensation either in the UK, Spain or any other Jurisdiction.

For a free, no obligation discussion to find out more about how Athena Law can help you, please do not hesitate to contact me directly for more information on 0161 839 8847 or by email at stephen.boyd@athlaw.co.uk

Radio 5 Live discussion – Timeshare Scams  http://www.bbc.co.uk/programmes/b0735rh2