TATOC's 3 Nevers for timeshare owners
TATOC is often asked if the new timeshare directive, which came into force in the U.K. over a year ago, has made an impact on improving consumer protection.
The good news is that the helpline team has seen a slow decrease in the number of owners calling to enquire and complain about rogue re-sale companies. So, in this area, the directive has had a positive effect.
For a 12-month period from February 23 2010, TATOC answered 845 enquiries regarding ‘cold call’ companies. The team helped 756 owners who had lost on average £1,500 to these organisations.
After the implementation of the new directive in February 2011, the following 12 months saw enquiries about ‘cold call’ companies fall to 645 enquiries with 546 complaints from owners who had lost money. That is a decrease of nearly 24 per cent.
Despite this success, TATOC is still concerned that timeshare owners continue to become victims to ‘cold call’ companies and want to make owners aware of the association’s three ‘Nevers’:
1. Never give money to anybody who ‘cold calls’ you;
2. Never make up-front payments for a service; and
3. Never do anything with a company without checking its credentials
Under the new directive, activities of re-sale companies were covered for the first time. For legitimate companies who have complied with the directive, the new rules have not caused any problems. They want to provide owners and buyers with a safe and secure professional service.
You can read more about TATOC's advice on cold calling here: Sharetimemagazine
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