Many thousands of timeshare owners miss out on compensation by receiving the wrong advice. Trying to claim compensation through the Spanish courts against liquidated companies is futile and will result in you potentially running out of time to make a much simpler claim. If you live in the UK and have taken out a regulated loan to purchase a timeshare, you are protected by the 1974 Consumer Credit Act (CCA).
The Consumer Credit Act 1974 establishes a creditor's liability for contract breaches or misrepresentation by a supplier. In other words, it protects consumers when they use certain types of regulated credit to finance a transaction. Such as a loan taken out with Shawbrook Bank to purchase a Club La Costa membership.
Regulated loans protect consumers if anything goes wrong with the purchase or if it is mis-sold.
If you took out a point-of-sale loan with any of the below timeshare lenders, your loan is regulated and falls into the 1974 consumers credit act.
Clydesdale Financial Service (Trading as Barclays Partner Finance)
Hitachi Personal Finance
Shawbrook Bank
First Holiday Finance
Honeycomb Finance
To qualify for a claim, you must have taken out a linked finance loan provided by the resort. This does not include unsecured finance taken out for 'home improvements' or 'personal' reasons. Additionally, the loan has to be specific for purchasing the timeshare product. The above lenders all provided finance for the purposes of buying a timeshare.
Suppose you hold an unregulated loan for a Timeshare in the USA or Anfi in Gran Canaria. In that case, they are not enforceable, and we can get these cancelled for you without adversely affecting your credit. Not all claims are limited to a six-year cut-off point. Several caveats may afford you more time to reclaim your money. If you are unsure if you qualify to claim, but would like to check, give us a call. Our friendly team.
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