Home/test/Page 21
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
DO YOU HAVE A QUESTION ABOUT YOUR TIMESHARE OWNERSHIP?
DO YOU HAVE A QUESTION ABOUT YOUR TIMESHARE OWNERSHIP?
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
I Still owe Money & My Timeshare Resort Won’t Let Me Out
Dear Brenda, Thank you for your question. So many people are struggling right now to pay the repayments, we hear this a lot and we are sorry for that. The truth is that I am not 100% sure if you are talking about maintenance fees or about the loan attached to your timeshare, so here is a response foRead more
Dear Brenda,
Thank you for your question.
So many people are struggling right now to pay the repayments, we hear this a lot and we are sorry for that. The truth is that I am not 100% sure if you are talking about maintenance fees or about the loan attached to your timeshare, so here is a response for both:
Maintenance Fees:
Maintenance fees are generally assessed by the number of units and weeks in a given resort, along with common areas, facilities, and operating costs.
It is also important to specify that these fees do not remain fixed. Due to changes in the economy, the maintenance of a timeshare changes every year. In some cases, a special charge is added to cover unpredictable operating expenses.
When maintenance goes up to the point that you cannot pay for it anymore, it is best to nip the problem at the root, and the best way to do that is by canceling your timeshare contract. Our advice regarding the payment of maintenance fees is that the consumer pays them because as long as the contract nullity is not declared, the said contract is valid and the buyers are responsible of their payment, which is used by the resort at their convenience.
Timeshare companies do not want owners to have an easy option to get out of the contract because their primary income is maintenance fees so often enough, they refuse.
If you have simply called them to ask about an option to cancel the contract, I would then send them your request in writing and wait for a response. That way, you have their reply in writing and have proof of it should you decide to take action against them in the future.
If by writing to them does not resolve your issue, (as they should now look at this as a more serious concern), then your next step is to consider legal advice from a timeshare specialist.
A Loan:
If you are talking about a loan attached to the purchase of your timeshare, a loan is a separate entity. It is like buying a car with a loan, if you sell the car you are still liable for the loan. In the timeshare, a loan agreement will run until the debt has been paid off.
Your first step is to approach the loan company to see if they can offer an affordable payment plan, again request this in writing. If you do not keep up with payments you could end up having to deal with a debt collecting agency or worse a County Court Judgement (CCJ) and subsequently a bailiff.
If there is no positive outcome where both parties agree, then your next step is to consider legal advice with a timeshare specialist experienced in these circumstances.
If you need any further assistance or clarification, please don’t hesitate to contact us again.
See lessWhat is a point system?
Dear Peter, Timeshare points are an increasingly popular alternative to owning a traditional, fixed-week of timeshare. Rather than owning the right to occupy a pre-determined sized unit within a particular resort, members of points-based timeshare clubs own a set amount of annually allotted units (gRead more
Dear Peter,
Timeshare points are an increasingly popular alternative to owning a traditional, fixed-week of timeshare. Rather than owning the right to occupy a pre-determined sized unit within a particular resort, members of points-based timeshare clubs own a set amount of annually allotted units (generally known as points).
The Point is the “currency” in which the value and price of the vacations at the point system resorts are established. Within the Club, each complex, each accommodation unit and each season have a value in Points; so you do not pay for your vacation with money but with the Points you have.
Instead of having a weekly participation in a specific resort and season, resort members will have points to reserve nights in the resorts of the contracted club, many of them supposedly spread around the world and with various travel and stay options.
The problem is that all of this is always subject to availability at the Resort’s discretion, therefore, when you try to book a desired vacation, the resort usually responds that everything is busy on those dates or that you do not have enough points to enjoy the chosen destination… Any timeshare still has availability restrictions and limitations, so you do not have complete freedom to plan your vacation.
I hope this answer will enable you to fully understand how points work. Should you have any further questions please don’t hesitate to contact us.
See lessWhat will happen with my timeshare if I die?
Dear Stacey, I am sorry to hear about your health, I also understand that when you have health issues, you do start to think of things like this. To answer your question, when a timeshare owner dies, the timeshare becomes part of the estate and the inheritors become the new owners and they are obligRead more
Dear Stacey,
I am sorry to hear about your health, I also understand that when you have health issues, you do start to think of things like this.
To answer your question, when a timeshare owner dies, the timeshare becomes part of the estate and the inheritors become the new owners and they are obligated to take over the timeshare fees. If the timeshare is unwanted, they will not be required to pay the fees.
Since old timeshare contracts typically include “in perpetuity” clauses, owners can be tied to these for life and they are then passed to next of kin. The “in perpetuity” clause basically means no end date. In Spain “Perpetuity” contracts are illegal and a lot of the timeshare resorts still active, do not have this clause in new contracts anymore but there are thousands of old contracts that still do. Check your contract and see if you have an “in perpetuity” contract or not.
In summary I don’t think you need to worry as they cannot be forced to pay the fees if it is unwanted.
Should you want further clarification, please don’t hesitate to contact us.
See lessWhat is an Exchange?
Hi John, I understand your frustration, COVID-19 has put a huge struggle on availability at timeshare resorts. To answer your question in simple terms, this means you can trade your week at your resort with another timeshare owner's week at another resort. RCI and Interval International are commonlyRead more
Hi John,
I understand your frustration, COVID-19 has put a huge struggle on availability at timeshare resorts.
To answer your question in simple terms, this means you can trade your week at your resort with another timeshare owner’s week at another resort. RCI and Interval International are commonly known as companies who offer exchanges.
The problem with exchanges is that the availability at other resorts is hard to find as each resort will prioritise the owners who purchased at that resort over an exchange client. I hope you have some success at finding availability, best wishes.
See lesswhat are maintenance fees used for?
Hi Sarah, I'm glad you are looking out for your mum. For many people money is tight for them. To answer your question, Maintenance fees are used for the upkeep of the resort, renovations, employee wages and marketing. Maintenance Fees are collected from all current owners and must be paid whetherRead more
Hi Sarah,
I’m glad you are looking out for your mum. For many people money is tight for them. To answer your question, Maintenance fees are used for the upkeep of the resort, renovations, employee wages and marketing. Maintenance Fees are collected from all current owners and must be paid whether the owner uses it or not. I hope this answers what you wanted to know.
See lessWhat happens if I stop paying maintenance Fees?
As your case is of financial circumstances due to COVID, we do recommend contacting your resort initially so you have done the right thing by contacting the resort initially to see if they can offer you payment assistance such as payment plan. If your Aunt is unable to pay anything, here are a few tRead more
As your case is of financial circumstances due to COVID, we do recommend contacting your resort initially so you have done the right thing by contacting the resort initially to see if they can offer you payment assistance such as payment plan.
If your Aunt is unable to pay anything, here are a few things that could happen.
If she stops paying her maintenance fees completely, you risk her resort initiating debt collection procedures against her. They may also hire a Debt Collection Agency. If she does not keep up with her payments, she risks the chance of receiving a County Court Judgement (CCJ) or even worse a visit from a Bailiff. If she has no choice but to stop paying maintenance fees to use the money for essentials such as food and utilities, our advise is to always speak to an independent legal professional first. An independent legal professional would be able to ascertain if the contract could be cancelled.
See lessIs Timeshare an Investment?
Dear Maddy58: Honestly, due to the speedy and evolution of new technologies and constructions, a property 10 years ago or more does not have the same windows, kitchen, technology and functionality as a new and current property, which not only does not makes it functional but unappealing. TimesharesRead more
Dear Maddy58:
Honestly, due to the speedy and evolution of new technologies and constructions, a property 10 years ago or more does not have the same windows, kitchen, technology and functionality as a new and current property, which not only does not makes it functional but unappealing.
Timeshares do not have an active secondary market, which makes selling them very difficult to carry out, it is a difficult investment to liquidate, much less obtain a revaluation….
In addition, you have to bear in mind that timeshare contracts include agreements related to the week to be used and even the dates, so it is difficult to sell or rent them since not everyone has absolute availability.
You also have to take into account the cost of the maintenance fees, as they will always be charged, whether or not the timeshare is used. Why commit to making a monthly or yearly payment for something your kids may never use?
Not to mention the financial issue, because we do not know what will happen tomorrow and this type of contracts “trap” the consumer, in such a way that he/she is forced to always invest money, despite having other priorities in his life and even serious needs.
At Timeshare.lawyer we have the necessary and legal knowledge to advise you before purchasing a timeshare; o if you already have one, we could cancel the contract, so if you want more information, do not hesitate to contact us; Please do so by completing the contact form in this website and we will respond once we have reviewed your question.
See lessCan I Sell My Timeshare with Club la Costa?
Dear John, Quite simply, whether or not some sort of buy-back option was loosely promised to you in the past, it is not in the interest of the Timeshare Group/Resort to take your Timeshare back from you. If they did this, they would effectively be “letting you off” the Maintenance Fees that you woulRead more
Dear John,
Quite simply, whether or not some sort of buy-back option was loosely promised to you in the past, it is not in the interest of the Timeshare Group/Resort to take your Timeshare back from you. If they did this, they would effectively be “letting you off” the Maintenance Fees that you would otherwise be liable to pay over the rest of your contract term, which may well be worth tens or even hundreds of thousands of pounds to them.
It is also important to remember that Timeshare is an abstract concept, and is now even more so than it was in the past, as many people have been moved over to points schemes, fractional ownership, floating weeks and similar variants. This means that, to create a new Timeshare contract to sell to a new member is purely a matter of raising some paperwork, as the Timeshare Group/Resort do not need to have a timeshare that they have taken back from you or another member “in stock”. They can just sell a package of points to the new member and add to the over-subscription.
So if you are one of those unfortunate people wondering, how can I get rid my timeshare? We want to convey that the most effective way to get rid of your timeshare is by cancelling the contract. Cancelling a timeshare has many advantages, but the best thing is that once you cancel your contract, you will have no more financial responsibilities associated with the resort.
At Timeshare.lawyer we have the necessary and legal knowledge to cancel a timeshare contract, so if you want more information, do not hesitate to contact us.
See lesswhat are maintenance fees used for?
Dear Mrs. Sarah, In a nutshell, maintenance fees are collected by timeshare companies for the purpose of covering the costs of maintaining the assigned property and the resort's common areas (such as cleaning, pool and children area maintenance), paying taxes and refurbishing the property.
Dear Mrs. Sarah,
In a nutshell, maintenance fees are collected by timeshare companies for the purpose of covering the costs of maintaining the assigned property and the resort’s common areas (such as cleaning, pool and children area maintenance), paying taxes and refurbishing the property.
See lessWhat Does In Perpetuity Mean?
Dear Stacey, The literal translation is “for ever” and some Timeshare contracts were sold “in perpetuity” in the days when Timeshare sales groups were pushing the idea that, along the lines of property, Timeshare was a long term purchase, which should be protected for you and your family so no-one cRead more
Dear Stacey,
The literal translation is “for ever” and some Timeshare contracts were sold “in perpetuity” in the days when Timeshare sales groups were pushing the idea that, along the lines of property, Timeshare was a long term purchase, which should be protected for you and your family so no-one could take it away. How times have changed!
This means that, if your Timeshare contract was sold “in perpetuity”, the intention is that it would stay in your ownership for the whole of your life, then pass on to your children, then your children’s children and so on.
It is likely that this was put forward as a benefit when the salesman was presenting the timeshare opportunity to you – but you will no doubt be fully aware of the downside now that you and your family face the prospect of relentlessly escalating fees liabilities, for ever.
There are some intricate legal and technical considerations around perpetuity which we would be impossible to fully explain in a few lines on the website so, if you have concerns or questions, please contact us.
See less