Timeshare Claim and Fraud specialist Law Firm Key2Law LLP receive 100's of new enquiries from scammed timeshare sale victims.

Timeshare Claim and Fraud specialist Law Firm Key2Law LLP has received hundreds of new enquiries from scammed timeshare sale victims.

Jeremy Bartholomew-White a Key2Law LLP consultant who oversees the West London based claims management department of the City based Law Firm, confirmed today that the number of enquires to the firm had soared over recent weeks and attributes this growth to the general publics increased awareness of a Spanish Court ruling on May the 27^th 2010, a ruling found in favour of the timeshare owner as defined by the 1994 European Timeshare Directive.

The ruling sets out a clear cut path for a claimant to make a claim against a timeshare company and oftentimes may lead to a claim against a connected lending bank, this may apply particularly whereby the lender was introduced to the transaction by the timeshare company acting as agent to the bank.

Bartholomew-White explains that “in the end a claim is only as good as the defendants ability and desire to settle a claim in many cases the timeshare company has gone bust or has simply disappeared, leaving the next logical route to claim against the lending bank on the basis that had the bank not lent so readily or casually via their agent, the Timeshare victim may not have been snared by the Timeshare scammer at all.   The depth of these claims can be substantial including the act of a lending bank allowing for a pre-vetting and approval of a larger amount of borrowing than needed, thus facilitating the timeshare con to continue with offers of up sales or upgrades at a later date.”

Clearly the economic climate in the UK has forced individuals and borrowers to reel in their finances and to watch out for every penny that can be saved.   Timeshare costs and their often overlooked greedy partner the “Timeshare Management Fee” are good a place to start.   So called management fees are often charged on a monthly basis and are a huge financial burden to a timeshare owner, oftentimes at the point of sale the timeshare victim was promised that their timeshare management fees would be easily offset by profitable timeshare rental of the property, only to find out after the cooling off period and too late to act that the rental income promised would not be forthcoming due to a lack of demand; unlike the management fees and charges that keep on arriving with annual increases together with the constant change of ownership etc.

Bartholomew White believes that the banks are bracing themselves for the onslaught of claims and Key2Law LLP is well placed to lead the way as are other well known city firms such as Edwin Coe.   He says that “there are hundred’s of thousands of claims involving billions of pounds, the timeshare industry has been exploiting the delusional and gullible holiday maker for years.   It’s about time it came to an end and the wrongdoers and their agents be found culpable.  With our turnkey solution the victims now have a better chance of recouping all or part of their losses, we welcome the current wave of new timeshare claimants the more we receive the stronger the cases become”

Key2Law LLPs branded claims division Key2Claims through Ministry of Justice registered CMC Debt Review Ltd has been working to create a turnkey solution for anyone in Europe that wishes to bring a timeshare claim.  This can be done on an individual basis or on mass where a class action can be created and brought against the Timeshare Company or related bank.    Key2Claims is working with a European Financial Claims specialist in order to facilitate the opportunity for a non UK based European Timeshare victim to bring a claim via the English Court System.

Bartholomew-White states “The European Time Share act 1992 and its directive of 1994 has been overhauled by a new Timeshare Directive 2008 and must implemented in all EU Member states by the end of 2010.  its priority is to enhance consumer protection and extends the scope of current rules and includes the new products that have emerged onto the timeshare scene such as Timeshare Resale, membership of a long term holiday product, rights of timeshare exchange.  This hardening of rules and the publics increased awareness as a result will highlight further the opportunity for a Timeshare victim to substantiate a claim.”

The market for the European timeshare victim is wide open and Key2Law LLP appear ready for the onslaught.

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