We have dealt with an exorbitant amount of cases for clients specifically for unfair maintenance charges, mis-sold Timeshare contract and gained a credible amount in compensation. So much so that we now have a dedicated specialist team of legal advisors and experts within our team.
These fees can rise dramatically from one year to the next, which can be a source of financial stress. When you first purchased your Timeshare you may have been told that the fees only increase annually with the rate of natural inflation. Maintenance fees however exist to cover the cost of the resort’s upkeep. The problem arises when the annual increase exceeds the rate of inflation and/or seems to increase to an unfair unmanageable amount.
Timeshare maintenance fees can double every decade. If your maintenance fees were £1,500 per annum in 2006, they are likely to be around £3,000 per annum in 2016 increasing to £4,500 in 2026. The maintenance fees over a long term contract (legally up to 50 years in duration) can escalate to a staggering amount of money.
Additional Maintenance Costs
Please be aware that at any time you may also incur a special assessment fees. These additional fees are added on top of maintenance fees to cover unexpected expenses. For example, a resort in the Caribbean may experience severe storm damage during hurricane season. A special assessment fees can be charged to cover any unexpected damage.
In addition these one-time expenses can include major improvements, for example, new outdoor facilities. Even if you do not intend to use that specific facility, you will be responsible for paying the special assessment fee.
Please do contact us as a matter of urgency if you feel that you have been overcharged for maintenance or Special assessment fees or if you feel your maintenance fees are becoming unmanageable.
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In depth assessments
Before any action is taken, the strength and potential of your case, is thoroughly assessed.
If you are concerned about the rise of your maintenance charge you must ask for a breakdown of how your Timeshare maintenance fees are spent in writing. If the Timeshare company or resort refuses to give you the information you have requested, this is now a cause for great concern and now a legal matter.
Put everything in writing and create a timeline of all communication. Your initial request for the information, and all subsequent requests, should be by letter or email, accurately signed and dated. This will provide evidence should the matter escalate.
"I Cannot Afford To Pay"
Unfortunately, you are contractually obliged to pay. You cannot simply stop paying your maintenance fees as you will accrue missed payment charges and interest. This will result in being further in debt and you may find yourself referred to a debt collection agency. Please contact us as a matter of urgency, our dedicated legal team will quickly assess your personal situation and the most efficient and effective termination process for you.
As a matter of urgency, write to your resort or management fee company, explain your financial position, making sure that you enclose a breakdown of your income and outgoings to prove your lack of ability to pay the maintenance fees. You should suggest an affordable payment plan to at least stop interest rates and missed payment charges escalating. If your Timeshare Maintenance fees are paid for through a finance company, you will have to write to them instead, enclosing the same information as above.
At Tranquilitas we have a highly trained specialised team that can help you. They passionately care about clients that have been exploited year on year with high maintenance fees and work tenaciously to make sure you exit your Timeshare contract efficiently. In some cases, our clients have been mis-sold their Timeshare and in-fact gain their money back and compensation!
Our team have been hand selected for their case successes against some of the worlds prolific perpetrators of mis-sold investments. We care passionately about our clients. We aggressively pursue every case, whilst reassuring and updating our clients on a monthly basis.