Timeshare & Section 75
There are so many different consumer rights that you need to be clued up on before making any type of transactions in the event of disaster which can so easily take place in this day and age.
Most typically, you could be the victim of identity theft, mortgage fraud, and a relatively new type of fraud to do with deceptive interest rate reduction robocalls as well as many other types too. On top of all that is credit card fraud. However, credit cards can actually come in handy in the event of a timeshare scam. But how is this the case? And how have others fared?
It’s time you were introduced to an incredibly important tool timeshare consumers should be making full usage of already – Section 75.
Section 75 Explained
Under Section 75 of the Consumer Credit Act 1974, you’re given statutory protections that essentially mean you’re entitled to a refund if paid-for goods or services are misrepresented. Although it’s not a simple process in practice, you can make a claim if it meets certain criteria. Transactions must be over £100 on purchases up to £30,000.
- If you order goods that don’t arrive or aren’t in the condition described;
- Costs and associated costs;
- Foreign transactions bought online, by telephone, or mail order for delivery to the UK;
- Against a now closed credit card account;
- Store cards.
- If there’s no direct link payment to the company you’re claiming from;
- Taking out cash on a credit card and using said cash to pay;
- When two items cost more than £100, but each cost less than £100 separately;
- Faulty items still under warranty with the manufacturer.
Section 75 & Timeshares
A breach of contract by a timeshare seller can be acted upon effectively if the transaction has gone through via credit card. When the supplier has either gone out of business, simply ‘disappeared’, or has even refused to engage, then you can make a claim against the card issuer. Not only that, but you can also choose to claim against the resort, card issuer, lender or all three. Knowing your rights here is incredibly important.
If you’ve been told by them to get a court judgement first before being able to take the case further, then you’re being deceived. The fact of the matter is that you don’t need a court judgement in the first place if the transaction has been made via credit card for an amount over £100 on a purchase up to £30,000. So, if the timeshare company doesn’t accept credit cards, then back out immediately.
Section 75 – Knowing Your Rights
When it comes to Section 75, you need to know all your rights in order to be fully protected. Although you don’t need to complain to the supplier, this is something that you’re entitled to do and can be effective in helping to speed up your situation. In terms of deposits via credit cards, be rest assured in the fact that you pay less than £100 as long as the full amount is over £100.
In doing so, you can still claim if the timeshare seller goes bust at any point during the purchase. Before you make a claim, just know that the card provider must be based right here in the UK. Not only that, but Section 75 is still open to interpretation. It’s not always a guarantee that you are able to get your money back. This is one of the very best ways to do so, however.
Section 75 & Other Ways Of Payment
Apart from a credit card, there are many other forms of payment for timeshares, including:
- Bank transfer
- Debit card
- Electronic money
- Store card
Bank transfers should never be made to timeshare companies since the money is automatically withdrawn from your bank account, with less protection on it too. Cash, on the other hand, can be difficult to trace unless you track down the people you gave the money to in the first place. Cheques have to be cleared in order for the money to be transferred over. However, they can bounce or be processed the next working day. Debit cards have chargeback, which allows you to get your money back through your bank by disputing a transaction. Electronic money could prevent you from utilising Section 75 since third-parties can set their own terms and conditions. Store cards come with very high interest rates, so avoid these if possible.
So, Have You Been Affected By A Timeshare Scam?
If you’ve been the victim of a timeshare scam and want to do something about it, get in touch today by calling 0161 839 8847 or be sure to fill out the contact form provided on our website.
Together, we can take back what is rightfully yours!