Consumer Direct
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Signed up for a Timeshare you now regret? Act quickly and you may be able to cancel
If you sign a timeshare contract which you later regret, you may have the right to cancel, but you need to act fast advises Consumer Direct.
The government advice service has received more than 1800 timeshare related complaints in the first six months of this year, a 45 per cent rise from the same period last year. Many were from people who regretted signing up to timeshares during high pressure sales presentations both in the UK and abroad.
Under the Timeshare Act 1992, if you sign a timeshare agreement in the UK lasting three or more years, you have a 14 day 'cooling off' period to cancel the contract and any related credit agreement. If you sign elsewhere in Europe you have a minimum of 10 days to change your mind. Cancellation must be made in writing and preferably sent by recorded delivery.
For some people timeshares can offer great convenience and guaranteed access to attractive properties in desirable locations. For others, they can be an expensive financial burden.
Michele Shambrook, Operations Manager for Consumer Direct said:
'If you are considering buying a timeshare, take your time to do some research, and if you attend a sales presentation, don't be pressured into agreeing to a deal on the spot. Take the details away, read all the terms and conditions very carefully and consider all costs including transport, insurance, annual maintenance charges and the cost of finance.
'Some companies try to draw you in to sales presentations by suggesting that you've won a free holiday. Many give the impression that they are not selling timeshares, but don't be fooled. If the contract meets the requirements you should have the right to cancel.'
Advice on resolving timeshare and other holiday-related complaints is available by calling Consumer Direct on 08454 04 05 06 or visiting the website at http://www.consumerdirect.gov.uk. Consumers may also seek advice from the Timeshare Consumers Association at http://www.timeshare.org.uk
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Editor's Notes:
* Consumer Direct is a telephone and online consumer advice service funded by government and managed by the Office of Fair Trading. It operates in partnership with Local Authority Trading Standards Services to offer consumers clear, practical and impartial advice and information.
* Consumer Direct has around 350 trained advisors in 11 contact centres across England, Wales and Scotland.
* The information and advice helpline is available on a single national telephone number - 08454 04 05 06 from 0800 - 1830 Monday to Friday, and 0900 - 1300 Saturday, excluding bank holidays and public holidays.
* A Welsh-speaking Consumer Direct service is available on 08454 04 05 05. Minicom users should call 08451 28 13 84.
* Calls to the Consumer Direct 0845 numbers are charged at no more than four pence per minute from a BT landline. Call charges from other landline providers or mobile phones may vary. Please check the rate with your phone service provider.
* Northern Ireland has its own service called ConsumerLine (available on 08456 00 62 62) which is similar to Consumer Direct.
Frank Shepherd
Press Officer
http://www.consumerdirect.gov.uk
