A maintenance fee which would have been around £100 when the week was purchased can often have risen to £500 per week and sometimes as high as £1,000 per week. With some owners having been persuaded to buy several weeks you can see how owners dread receiving the annual maintenance fee invoices each year and how something that was supposed to be an enjoyable purchase has turned into a nightmare for millions of people around the world.
Traditionally there were several different solutions to this problem. Unfortunately these solutions have often stopped working over time;
1. Sell your week. Unfortunately due in part to the rising maintenance fees most people are not even able to give their timeshare weeks away, let alone sell them for anything approaching the original purchase price. There is also a huge potential for people trying to resell their timeshare to fall foul of one of the many resale scams that have arisen from people’s desires to get rid of their timeshare, which means that this option is not only often fruitless but also has the potential to get owners into deeper trouble.
2. Hand your week back to the resort. This used to work but increasingly resorts do not want the weeks back as to do so simply mean that the same maintenance costs are then divided between less people, which in turn increase the annual fees even more. Yes, the resort can sell the week to somebody else but until they do so they are responsible for the maintenance fees themselves.
3. Stop paying and hope for the best. In the past if you simply stopped paying the resort would normally take your week(s) back after a certain period of time. This was intended to be a stick to make you pay but as owners started using this as a good way of getting out of their ownership the resorts stopped doing this and insisting that the maintenance be paid. Some owners will risk the fact that the resort will not try and come after them should they stop paying but many are scared that the costs due abroad will impact on their credit rating back home.
Maintenance fee invoices tend to issued at the end of the calendar year and it is therefore now when owners are looking for other solutions.
Judicare have been able to use a little known part of Spanish law to find a legal and cost effective solution which allows owners of Timeshare in Spain to get out of their timeshare ownership, and therefore their obligation to pay the annual maintenance.
If the Timeshare companies had done things properly and in accordance with Spanish Law then this solution would not work. Fortunately for the owners facing huge maintenance fees this is rarely the case and therefore Judicare have been able to help the majority of Spanish timeshare owners who have contacted them to date. We therefore feel that the testing phase of this solution is now over and that it is a viable solution for owners looking to get out of their timeshare maintenance obligations.
Further information about timeshare generally see; http://www.judicarerecovery.com/
For further details about getting out of Timeshare see; http://www.judicarerecovery.com/