PROPER LEGAL ADVICE
Following yesterday’s news that the Financial Ombudsman Service (FOS) has made a final decision in a case involving Barclays Partner Finance (BPF), who funded the purchase of one of Club La Costa’s mis-sold Fractional timeshare products to consumers, we have now had the opportunity of reviewing the contents of that decision.
It is clear from the decision, which can be found at Financial Ombudsman Service site, that the consumer had initially instructed a business to act on their behalf who was not a firm of solicitors, but a Claims Management Company (CMC). There is criticism in the decision, by both BPF and the FOS, of the work carried out by that CMC.
The FOS found that “BPF were concerned that Mr and Mrs H’s CMC had behaved poorly in the past in relation to another consumer’s claim”. BPF also cited 4 claims, brought in the County Court, in which consumers did not instruct a firm of solicitors.
In those claims, one consumer said that “the majority of allegations he had made in his signed Deed/Power of Attorney did not relate to his claim and were inaccurate, that this was prepared by the CMC and he did what the CMC told him to do to get out of the timeshare agreement” and in another “the judge
questioned the role that the CMC involved in that case”.
This decision from the FOS is very important for consumers, but also highlights the need to instruct a firm of solicitors, fully regulated by the Solicitors Regulation Authority (SRA) or other suitably regulated lawyers/claims management company, to properly represent their interests.
Given that you can only present your claim once, there is a risk that your claim could be rejected if you do not get proper legal representation from regulated lawyers, with the appropriate track record and expertise in this highly complex area of law.
In this claim, the FOS ordered BPF to repay all payments made under the finance agreement, plus interest at 8% per annum, and maintenance fee payments for 5 years. In some claims, this will amount to a substantial payment.
Sarah Waddington Solicitors have been at the forefront of timeshare law and have worked tirelessly over the past seven years to gain compensation for the victims of mis-selling, including via the FOS. We are fully regulated by the SRA and we have the expertise to properly represent your interests in relation to your timeshare ownership.
If you purchased a timeshare product and want to discuss how you can benefit from this decision and escape paying yearly maintenance fees then do not hesitate contact us on email@example.com or 01920 481 499
Alternativly would like to know just how much compensation you could be owed, then try our free timeshare compensation calculator. The dedicated and experienced team at Sarah Waddington Solicitors are on hand to offer guidance and advice on what to do next so please get in touch if you have any questions or would like to book a free 30 minute consultation to discuss your case.