Many timeshare owners are now asking the same question as 2021 approaches. It has been a difficult year for the timeshare industry, with many of the big timeshare resorts closing down. Owners have paid maintenance fees for 2020 that they were unable to utilise and now they are worried about what will happen next year. We have wrote this post to answer as many question we can to help advise timeshare owners.
Providing that your maintenance fees are paid up today, including 2021 and that the timeshare resort has not closed down then you should be able to travel again during 2021. However, it seems that the larger timeshare resorts have remained closed even when the boarders re-opened. If you own a timeshare at the beginning of 2021 you might not be able to use it.
As long as you timeshare resort grounds are being maintained then you will need to pay your contracted annual fees. Your maintenance fees are paid to the company that maintains the grounds. If the grounds are still being maintained then you will need to pay the annual fees.
This depends on the timeshare resort. Every timeshare owner who was unable to use their week in 2020 was offered a free week to use the following year. Most timeshare resorts are completely sold out, therefor, there would not be enough accommodation available for every timeshare owner to take twice their annual allocation in one year. The banked weeks were offered subject to availability and for a lot of timeshare owners, there will be no availability.
If you have a legally binding contract to cover the cost of maintaining your divided share of the maintenance fees then you will have to pay this. Timeshare maintenance debts are often passed onto a debt collection agency once a debt reached around £5000. This is dependent on the timeshare resorts. More information can be found here https://timeshare-claims.co.uk/diamond-resorts-send-in-debt-collectors/
No, timeshare resorts only allow timeshare owners to stay at the resorts if they are up to date with their management fees.
This depends on the remaining length of your contract, the country it was purchased and whether your timeshare had been mis-sold. On average the cost to terminate a European timeshare contract is around £2995 and £3495 for a US timeshare.
If your timeshare resort used unofficial contract, mis-selling sales tactics or took a payments from you within the cooling off period then you could be eligible to submit a claim. There is a statute of limitations on this. Please consult with a timeshare claims specialist for further information.
If you would like to speak to a specialist, Timeshare Claims Advice would be happy to answer any questions that you could not find in this post. If you fill out the timeshare compensation calculator on the link below a member of our team will give you a quick call.