Timeshare is a nightmare

ABOUT 25 years ago I bought into timeshare. I spent R50 000. Part of that money was meant to service levies. For a while it looked like a good proposition.

Around 2000, all that changed. Levies were reintroduced and these became more onerous each year. At the same time, the availability of resorts began to diminish. By my calculation, it was cheaper to book a holiday directly than through the holiday club.

When I tried to get out of the contract by offering the shares back to the company, I was blocked all the way. I tried to sell my shares independently but to no avail. In desperation I offered to give away the shares, to anyone in South Africa, free of charge. Even that didn’t work.

Finally, I advertised overseas on social media and in 2004 a British doctor agreed to take my shares for nothing. I was delighted to sign on the dotted line and be rid of the albatross around my neck.

Buyers have been feeling trapped for many years now. Companies selling timeshare offer all kinds of inducements in their presentations and use forceful sales tactics to pressure those coming to pick up prizes, to sign up on the spot. They are not shown the small print which ties down the buyer for life in a blatantly one-sided agreement.

In the UK, frustrated and sometimes terrified owners of timeshare have had to get together to hire lawyers to step in. It is only then that the sellers agree to cancel the contracts, lest a judge rules against them and imperils their honey pot. The companies selling timeshare are generally ruthless as all the complaints show.

Cope raised this matter through a question in Parliament many years ago but nothing has happened. If a collective of timeshare owners were to take the matter to court, a quick solution would be found.

The National Consumer Commission can continue with its investigation. Timeshare contracts must be declared invalid in the High Court to provide immediate relief to those who are exploited.