Timeshare contracts offer compensation claims but only if you meet their criteria. There are many misconceptions related to timeshare and the claims they give in the market due to people not being aware of the authentic details regarding qualifications and criteria for seeking claims. In this article, we will highlight certain important aspects related to the timeshare and its claims. Keep reading below!
Why Should You Seek Compensation?
Timeshare is a striking and interesting concept that many people, especially those who love vacationing are attracted to. While searching for a hotel and renting rooms every time you go for holidays or vacations alone or with family can be a hassle, you can always seek timeshare resorts that will allow you to come and take vacations in a comparatively easier and stress-free manner. However, with the popularity of such concepts, many companies started serving calculated offers to get maximum profit at the expense of their client’s vulnerability and unawareness of their rights. Today, as strong and protective consumer laws are gaining more consciousness, people are coming forward with timeshare claims for compensation.
Do You Qualify For Compensation?
Before you seek claims for timeshare, you must be aware of the criteria and if you meet them. If you feel or are sure about being mis-sold timeshares, you can always seek help and claims. However, you should get some knowledge regarding the same as listed below:
- Timeshare perpetuity contracts: If you have a timeshare contract with no end date or a date that may exceed fifty years from the date of signing, you might have signed for a timeshare perpetuity contract. The contract can indebt your beneficiaries or family in case the date of ending passes beyond the death of the contract holder. If you have signed such a contract you can ask for compensation.
- Floating Weeks: Floating weeks contract is nowadays considered illegal owning to unscrupulous activities by many hotels. They will provide you with an option to choose from certain weeks within a year for a holiday and reserve the time slot. However, many companies are reserving peak days of vacations for staff as well as non-timeshare owners leaving the timeshare holders with limited options or no option at all at their required time.
- Timeshare points-based contracts: With such contracts, you may be sold or awarded points in the name of clubs, rewards, offers etc. However, these points may have certain hidden rules and terms that may require massive upfront fees later.
- Mis-selling Of Contracts: If you have mis-sold a contract, through false or limited information, or any other scam during the selling, you are eligible for timeshare claims.
Conclusion
Timeshare contracts must be carefully read and addressed in case of any query from the company. Make sure to read all the terms in the contracts before signing.