Tied into A Timeshare You Can No Longer Use or Afford
A timeshare was once seen as a great opportunity to enjoy a few much-needed weeks away in the sun each year but as you grow older or circumstances change, owning timeshare can become increasingly difficult and more of a burden than anything else.
As the years go by and your health, personal or financial situations change, your desire or ability to even use your timeshare can alter significantly; but what exactly does this mean for those who are tied into a timeshare agreement?
Looking to Escape Your Timeshare?
It is not uncommon for a lot of timeshare owners to feel trapped into a huge, long term financial commitment for something that they no longer benefit from in any way. Some of the most common reasons that owners no longer wish to keep their timeshare include;
As we all know, with age comes a decline in our health and eventually being able to travel or go abroad can become impossible. A lot of people can struggle to travel due to ill health, infirmity or even the inability to obtain sufficient travel insurance.
- Rising Costs
The continuous rise of maintenance fees can be extremely unfair and need to be paid whether you visit your timeshare or not. These costly annual charges can become increasingly difficulty to afford over the years especially for those on a tight budget or pension.
Whether it’s a separation or divorce, things can become complicated when a couple who own a timeshare together are no longer in a relationship. This can mean that neither will be able to use the property but either both are still left having to pay for it or just one person is burdened with it all.
It is mostly couples who purchase timeshares in the hope of being able to enjoy many happy years together making the most of it. Unfortunately, when one spouse passes away, the other can be left paying for timeshare that they no longer have any desire to visit.
- In Perpetuity
These types of contracts tend to have an extremely long end date for the agreement period or sometimes they don’t have one at all. This can lead to concerns about what will happen regarding inheritance and the next of kin who could be left having to pay the fees once you are gone.
What Can You Do?
Unfortunately, the timeshare industry is one that has been rife with scams and continues to have such issues to this day, but there are circumstances under which you could make a successful timeshare compensation claim.
Some of the types of contracts that could have grounds for a claim include;
- In Perpetuity Timeshare Contracts
- Mis-sold Timeshare Agreements
- Floating Week Timeshares
- Timeshare Points Clubs
Taking legal action against the timeshare company can help to get you the financial compensation you deserve and, in some cases, terminate the contract for breaching the law. Timeshare law is extremely complex and is not something that can be taken on by anybody but requires the professional expertise of a specialist timeshare solicitor.
If you think that any of the above are relevant to your timeshare agreement then get in touch and the team at Sarah Waddington Solicitors will be happy to speak to you about your case. If you would like to get an idea of just how much compensation you could be owed then try our free timeshare compensation calculator.