Refunds of more than £80million have gone to timeshare owners, thanks to the Timeshare Task Force, created last year to clean up the industry’s tarnished reputation. Rogue traders claim to be able to help people sell unwanted timeshares but simply take the money and disappear.
Now the Task Force, run by online investigator KwikChex, is working with industry bodies, such as the Resort Development Organisation and timeshare association TATOC, to report fraudulent businesses to the authorities and warn owners of illegal companies.
A recent case involved a pensioner couple who wanted to get out of their timeshare.
They were directed to a group claiming to enable people to sell their timeshare and paid £4,500 to get out of their contract.
After contacting the Task Force they discovered that they could have surrendered their timeshare free and are in the process of getting their money back. As well as securing £80million in refunds, the Task Force has reported 34 businesses to the police and two people are expected to be given prison sentences for fraudulent trading.
KwikChex’s lawyer America Maya said: ‘This is only the start. The more information received by the Task Force, the greater the potential for resolutions, refunds and enforcement actions.’
Read more: http://www.thisismoney.co.uk/money/news/article-2754835/Timeshare-victims-given-80m-refund-Task-Force-tries-clean-industrys-tarnished-reputation.html