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Thu, Jul 25 2024, 6:42:27Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 12345678[9]10 ]
Subject: CASE Report On Timeshare


Author:
George
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Date Posted: Mon, Apr 25 2005, 15:27:19

Spotlight on Timeshare: What you need to know

Consumers continue to seek CASE's assistance on Timeshare matters. We received 1,518 complaints related to Timeshare in 2003, and 2,724 in 2004, which was an increase of about 79%. The most common complaints revolved around sales tactics that involve undue pressure and misrepresentation.

CASE would like to offer the following advice to consumers to prevent them from committing themselves to timeshare contracts unknowingly:

1) Under the Consumer Protection (Fair Trading) (Cancellation of Contracts) Regulations, the consumer may cancel a timeshare contract within 3 working days (ie. excluding Saturdays, Sundays and public holidays) after the day the contract is entered into. Consumers are advised to notify the company in writing (ie. letter) within the 3 days should they wish to cancel such transactions. The letter is to be sent by hand or registered post or fax and not by email.

2) Timeshare companies are obliged to inform and explain to consumers about the Consumer Information Notice (CIN) and Cancellation Form. The CIN informs the consumer of his right of cancellation and companies should also provide the consumer information as to whom the notice of cancellation is to be given. If the CIN has not been highlighted to the consumer, the cancellation period will commence on the day in which the CIN is brought to the consumer’s attention.

3) Under the Consumer Protection Fair Trading Act Section 4, it is an unfair practice to take advantage of a consumer by exerting undue pressure or undue influence on the consumer to enter into a transaction involving goods and services.

4) Do not attend a timeshare presentation only for the "free" gift – very often, there are many restrictions, the free gift is seldom worth the time you spend. Go only if you are interested in a timeshare holiday.

5) Do not buy a timeshare scheme for investment purposes – you often have difficulty in re-selling them.

6) Do not buy timeshare solely for the right to travel to other resorts. There are sometimes tiresome conditions to fulfill before you are allowed to exchange your resort for another.

7) Do not buy a timeshare out of pity for the salesperson having to talk to you for so many hours or for fear that he or she will lose his/her job. Remember that you are paying out a large sum of your hard-earned money.

8) Make sure that you read and understand the terms and conditions in all contracts that you are signing. Contracts which you have signed are legally binding. If in doubt, always clarify with the company involved.

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