EU Timeshare claims expected to rise sharply

Expert London Based Financial Claims Co - Unveils plans to capitalise on the Timeshare Claims Market in wake of Spanish ruling on EU Timeshare Directive.

Plans today were set in motion to assist any EU citizen who has been duped into buying a Timeshare from dubious developers and Timeshare sales bucket shops.   It is estimated that over 2 million people in Europe have been scammed into buying unwanted Timeshare property.

The effect of a Spanish Court ruling on May the 27^th 2010 is poised to open the flood gates against some of these scammers and create a wave of financial claims spanning many years possibly back to 1996.   Key2Claims a brand name of Key2Law LLP and a trading name of MOJ registered Debt Review Ltd has created and launched today a turnkey claims procedure to enable a would be claimant to make a claim against the Timeshare company or the underlying supporting bank where they lent the purchasing money without duty of care or appropriate due diligence to the unsuspecting buyer.

Jeremy Bartholomew-White of Key2Law LLP said that “…it is impossible to generalise in claims such as these, however we can say that in light of the Spanish ruling and the current economic climate there probably hasn’t been a better time for a claimant to lodge a Timeshare related claim.   Certainly Key2Claims.co.uk have a good solid turnkey solution in place to assist anyone that wishes to check out where they stand”

Mis-selling as defined by the 1994 European Timeshare Directive is at the hub of the Spanish ruling and in many cases a claimant will be entitled to a whopping 100% uplift on any deposits made during the cooling off period after 1996, clearly the burden of proof will be upon the claimant to prove when a payment was made.

The Timeshare industry has been under the scrutiny of the watchdogs for years and the scams have become more creative by the year.   Bartholomew White said “this is a giant step forward for the European Timeshare consumer and paves the way for justice, the timeshare industry has been far too clever for far too long”

Some of the most common areas of claim are mis-selling, inappropriate lending, fraudulent representations, poor and unfair lending practices.   Many of the underlying banks are based in the UK as are the claimants and this may well assist the claimant says Bartholomew-White.

Jeremy Bartholomew-White is a consultant at Key2Law LLP, and claims managers Key2Claims and European Financial Claims