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Stuart J
Stuart J, Solicitor
Category: Law
Satisfied Customers: 22620
Experience:  PGD Law. 20 years legal profession, 6 as partner in High Street Practice
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I bought a timeshare from a friend in 2006. Did not realise

Customer Question

I bought a timeshare from a friend in 2006. Did not realise I cannot get out of this at all the debt gets passed to my children and children's children. Spoke to timeshare Consumer Organisation 1 yr ago and he advised me to write tothe timeshare to relinquish my apartment and stop paying maintenance fees. this I did. I was also under the impression that if the contact was under Isle of Man Law I couldn't be taken to court over this but I have now received a lawyers lette threatening court proceedings. What can I do. (tried contacting timeshare consumers association but the man I spoke to has died suddenly and I cannot get any response)
Submitted: 4 years ago.
Category: Law
Expert:  Stuart J replied 4 years ago.


Your
children are not responsible for your debts unless you leave any assets and
your creditors then have the first call on any assets after the payment of
funeral expenses.

You can be
taken to court but it will be in the Isle of Man.



Any
judgement obtained in the Isle of Man can be enforced in a UK court.



Of course,
the timeshare company will tell you that you cannot relinquish your share
because they are having people leaving in droves because timeshare has such a
bad press and they are losing their fees hand over fist.



The tactic
which seems to work the best is to tell them that you have no assets in your
sole name (if that is the case), you cannot afford to pay this and that you
have been advised that if they continue to press you and get judgement, you
would have no alternative but to go bankrupt.



It will
cost them £700 to apply for a bankruptcy petition just in court fees alone and
probably another £2000 in legal costs. You are calling their bluff as indeed,
they are with you.