Every year the UK European Consumer Center (similar to US Consumer Protection) releases their findings on product and service complaints. As the 2008 figures were recently released by the ECC, the timeshare industry took the lead and accounted for over 38% of all complaints received. The complaints were comprised of discount holiday clubs, timeshares as well as resale and listing companies.
Along with consumer complaints, the ECC also tracks the number of enquiries that consumers make for more information on a specific industry/company or business. The number of enquiries made by consumers for further information on the timeshare industry accounted for over 20% of all requests.
The 300 plus complaints that were accounted for regarding the timeshare industry covered all categories of complaints. Some complaints were even accounted for as scams in the industry.
Jed Mayatt, an ECC Manager explained that many consumers end up getting involved in the timeshare industry because of the consumer’s nature to be vulnerable while on holiday and during recessions. Many timeshare companies promote memberships as a future “financial investment” which allows for many consumers to justify the large expense during times of financial difficulty.
Jed also commented that some complaints involved consumers who attempted to cancel their contract when the after-glow of the sale faded and buyer’s remorse set in. These complaints involved customers who attempted to cancel within one to two days of signing the contracts and were denied a refund and release from the contractual obligation.
Both the ECC and the US Consumer Protection place warnings for consumers who are likely to be targeted by timeshare related companies. Statistics have shown that older consumers tend to be targeted for timeshare presentations because of their trusting nature and presumed financial stability; unlike the younger population, who tend to be less financially able to buy as well as more skeptical about the service or product being sold.
Apex Professionals, a company who assists unhappy timeshare owners out of unwanted contracts, is not surprised by the ECC’s results on the overwhelming number of complaints involving the timeshare industry. It has been an on-going issue in the United States for several years and it was only a matter of time before these complaints surfaced in European countries.
The representatives from Apex Professionals LLC strongly recommend that consumers take the statistics from reputable sources like the ECC and US Consumer Protection to heart and avoid industries that fall high under the radar such as the timeshare industry.
About the Author: The timeshare experts at Apex Professionals, LLC, concentrate on helping disillusioned timeshare holders to rid themselves of unwanted maintenance fees, unnecessary assessment costs, and to do away with those annoying high-interest mortgages by offering to take over unwanted timeshare agreements instantly. Related posts:
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