Tomorrow, Ater Inside Timeshare will be publishing the second part of Timeshare & Finance, this will begin with a look at a product that has become known as one of the biggest frauds in timeshare history. For many consumers, this was financed by a loan agreement brokered by the sales staff at the time of purchase, we then follow their efforts to lodge a formal claim & complaint against the loan provider.
The article will then show how the two bodies given the task to “regulate” the finance industry but also to “protect” consumers are failing. These are the bodies that ultimately resolve any dispute. Unfortunately, those resolutions are more often than not in favour of the industry.
In the case of the Financial Conduct Authority, (FCA), it is the case that has been heard by Judge Herrington of the Chancery Division of the High Court. Even he could see the injustice against consumers the FCA decision would have.
When we move to the Financial Ombudsman Service, (FOS), the examples are from genuine clients and their experiences with the FOS. From their experiences, it is certainly clear those entrusted to “investigate” take no notice of the client’s evidence and revert to the misinformation provided by the loan provider. Ultimately ending in a decision against the consumer.
Consumers need protection, the bodies entrusted with this are not fit for purpose, join us tomorrow for the full story.
In this Friday’s article, we welcome a new contributor, Fran Dygulski, with her first article “How to Write a Clear and Concise Timeshare Report”. Fran is one of the many volunteers who have rallied around Irene Parker to assist in resolving timeshare issues.
Although this is a contribution from our friends across The Great Lake, the same rules apply, the only difference will be the bodies the complaint is aimed at. There is not a lot of difference in the nature of the complaints about timeshare, be they in the US or here in Europe, they are testament to how unregulated the timeshare industry really is.
There is a world of information for timeshare owners, but there is also a lot more misinformation. After Inside Timeshare works to bring you the truth, show you your options so that you can make an informed decision.
For further information on any article or if you have any questions, please use our contact page and we will get back to you.
