Do you qualify for timeshare compensation? A quick guide:

With hundreds of thousands of mis-sold timeshare owners keen to claim compensation whilst escaping the burden of their memberships, fraudulent claims firms are seeking to take advantage. Read on to see if you actually qualify for compensation, or if you would be throwing money away by trying.

Why compensation?

Timeshare companies have been ignoring protective consumer laws for over a decade, and now they are paying the price. It was no accident on their part, but a calculated decision to profit at the expense of sometimes vulnerable consumers.

Claiming compensation is the right thing to do if you were mis-sold. Possibly you ended up with great holidays but that doesn't excuse the illegal way timeshare companies did business. Some people made financial choices, under these illegal conditions, that ruined their lives.

Scam companies

"Unfortunately the nature of the timeshare business is that it does attract unscrupulous people," explains Jayne Niven, contracts specialist with European Consumer Claims (ECC). "This was true when it was being sold, in the peak timeshare years of the 80s and 90s, and it is true now with the current explosion of compensation awards for mis-sold consumers."

Timeshare owners often find themselves bombarded with calls from dubious companies offering them a fortune in compensation and freedom from their timeshare commitments. The fraudulent companies do not care whether their targets will ever get compensation or not, and have no problem with giving dishonest information in order to garner fees.

Do I qualify?

Generally speaking (with notable exceptions) to qualify for timeshare compensation you need to have bought in Spain, and on or after the 5th of January 1999. Then if one or more of the following conditions apply to you, you have a valid compensation claim:

• You paid any money to the timeshare company either on the day or within the cooling off period
• Your contract was for over 50 years
• Your membership is floating weeks or points

"The above conditions mean you ARE entitled to claim, but not fitting them does not necessarily rule you out," says Andrew Cooper, CEO of ECC. "There are other situations in which timeshare owners can claim compensation, including for example many Azure (Malta) owners who bought with finance.

"If you don't fit the automatic qualifications, then don't just take the word of a company who cold calls you to promise compensation awards, check your personal eligibility with experts.

"There are several independent timeshare consumer associations who will give you accurate advice.

Or you can contact our team, for a free, no obligation chat."