How to tell a genuine timeshare claims company

With more and more timeshare owners looking to escape expensive, dated and restrictive memberships, compensation claims are proving to be a lucrative exit method for those owners who qualify.

Who can claim?

For pretty much all timeshare owners, it is possible to relinquish what you own provided you engage expert help.  However, thanks to some protective laws that were ignored for over a decade by most Spanish timeshare operations, many owners are able to sue their resorts for sizable amounts of compensation.  The important secondary effect of the compensation claim is that the protagonist is released from their membership.  The main conditions are that you bought in Spain.  So far it's mostly (with some exceptions) Spanish timeshare owners who have been able to claim compensation, and you bought on or after the 5th of January 1999 as the laws came into effect on that date, and they were not retroactive.

With those prerequisites, then if you can answer 'yes' to any one of the following, then you can generally claim compensation:

1. Did you pay any money on the day, or within the cooling off period? 
2. Did you buy floating time, or points? 
3. Was your membership duration over 50 years?  

There are other ways in which you may qualify, and it will help to discuss your specific situation with an expert.  

At this point it is important to internalise the fact that not all "experts" can be trusted.

Fraudsters

As is widely reported, the vast majority of firms offering claims or relinquishment services are criminals who will steal your money and do nothing to help you.   

The scam firms are staffed by persuasive men and women, who are only good at one thing: convincing you that they are genuine, and coaxing you to part with your money.

Even consumers savvy enough to research prospective firms before retaining them find it difficult to navigate the disinformation Google throws at them.  The scammers produce their own search results both directly and indirectly.  Discerning the actual truth becomes an ethereal prospect.

Organisations like ourselves (Timeshare Consumer Association - TCA) keep a white list of trustworthy firms currently operating.   Also the website timesharetrust.co.uk gives excellent guidance on how to effectively research a company you are unfamiliar with.   

Indicators of trustworthiness

There are several basic signs that you should be aware of before handing money over to some smooth talker on the telephone.  9 times out of 10 scammers will not have these bases covered:

1. Do they have a website, and if so how long has it existed for? A domain search will tell you how long the site has existed for. Also look for professionalism. Are there spelling mistakes? Is the formatting professional?  
2. Do they post their company number?  A search of Companies House will show if the number is real, and if so how long have they been in business?  The longer they have been in business, the better.  Also, does their website claim the company has been in business for longer than their company has been registered for?  
3. Do they have a physical office address, and are they happy for you to visit in person?  During COVID this may equate to a Zoom call instead.  Either way have you seen the person's face, and place of work?  If they have established, staffed, equipped offices this is a sign they have nothing to hide and no intention of disappearing.  If you are just talking to a voice on the phone they may be operating out of their living room
4. Can they provide evidence of past victories, and their team's credentials?  Any company who has a history of success in their chosen field will post details and media links on their site.  They will often also post core team members and list verifiable credentials.  Do they have client testimonials?  Are those testimonials written or audio/video?

Contact us

"Anyone with doubts should contact either our team, or another similarly independent organisation," says Daniel Keating, Information Officer for the TCA. "Our database of client experience has been built up over the last 24 years and there is not much about these firms we don't know.

"The most important rule is: 'don't pay any money until you are certain of who you are about to do business with.'  Once payment is made, it' is not usually possible to get back."

"Finding and retaining a capable and trustworthy claims firm is worth the effort," adds Keating.  "The average claim awards at the moment seem to be over £20,000.  And that is on top of being free from the burden of the timeshare membership."