- Posted by admin
- On July 19, 2017
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You may be feeling trapped by a timeshare contract or holiday club membership that you can’t get out of. You may be struggling to pay the management fees and maybe no action has been taken against you (yet), but please be aware that a timeshare contract or holiday club membership is not something you should ignore. It may take some time for this debt to be chased but this could simply be due to the company waiting for the amount to build up over a number of years to the point where it is worth pursuing.
You may already be in the position where you are receiving demand letters form the timeshare company or worse.
Do not think you are alone in this, there are many individuals, couples both sole traders, directors of limited companies, employees and pensioners hat are in the same position and your situation maybe compounded by other personal debt either form unsecured consumer credit cards and loans, mortgage companies or debtor from your current or former business/company.
There are many reasons why you must address the timeshare or holiday club membership and deal with the contract itself, no lease because many contracts are in perpetuity, which may mean that there is no end date and that the contract is passed onto family or can force your estate into probate.
The most important decision you can make is to take advice, but it appears that there are many companies advertising to help people get out of their timeshare contracts but they are in fact selling new products or linked to the timeshare companies themselves.
There are several options available to timeshare or holiday club owners and they can be any mix of the following
- Simply getting you out of the contract itself
- Getting you out of the contract and seeking a refund in respect of the monies paid to date
- Processing the application of any compensation for miss selling
- Dealing with any other personal financial commitments that are proving difficult to manage
We do not offer a service whereby we can get you out of your timeshare agreement but we can review your position and the situation with regards your timeshare and your personal financial situation to ensure that you get the right advice for you and you address every aspect.
If you can stay in control of the situation you re much more likely to be able to achieve the outcome that you want. There are informal options available such as debt consolidation and informal arrangements which may be suitable if creditor pressure isn’t too demanding. In our experience, the sooner you come to see us, the better we are able to help.
If you are concerned about your business or your personal finances, please call me, Liz Sapsted on 03120 965485 or email Elizabeth@revivebusinessrecovery.co.uk/ I will be happy to help.