Consumers stand up for their rights and claim their dues
The unfolding of the payment protection insurance (PPI) scandal over the past few years seems to have brought about a subtle shift in consumer awareness in the UK. With so many people having enjoyed the benefits of being compensated for mis-sold PPI, there has been a growing awareness that it is possible to take on the big companies and win.
PPI complaints are currently at their highest level since the first half of 2014. The number of complaints jumped by 24% in the first six months of 2017, according to the Financial Conduct Authority (FCA), to a total of 1.1 million. With the FCA then announcing a complaints deadline of 29 August 2019, we can reasonable expect that the number will increase further over the coming couple of years, as consumers race to claim what’s theirs in time.
“The PPI scandal prompted many people to stand up for their rights and fight financial injustice. Such wide-scale consumer action has naturally impacted other areas of life too and we’re now seeing the results of that in the timeshare industry. Buyers are starting to stand up and be counted in this sector too.”
In the timeshare industry, consumers’ fight for fair treatment has been backed by the Spanish Supreme Court, which has upheld a number of rulings against timeshare companies in recent years. The court has ruled that timeshare contracts that are for more than 50 years (i.e. in perpetuity), that are for floating weeks products or that involved money being handed over during the cooling off period are illegal. This has given many consumers the boost they need in order to take on the big timeshare companies and seek to exit their illegal contracts. Naturally, many of those claiming are also looking for compensation as a result of the negative financial impact that such mis-selling has had on them.
“We’ve seen a notable shift in consumer awareness and willingness to stand up and fight the system in recent years. The momentum is still building, just as it did with PPI claims, as consumers become aware of their rights and the fact that there are systems in place to help the stand up for those rights.”
Taking a timeshare company to court isn’t a quick process, but it is one that can be well worth the time and effort. Companies such as Timeshare Compensation are there to work with those who’ve had enough of allowing timeshare companies to ride roughshod over their rights.
“Supporting consumers to stand up for themselves isn’t just limited to companies who deal with PPI claims – individuals can benefit from professional and legal support when it comes to challenging illegal timeshare contracts as well!”