How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

Are Monster Travel "Credits" a good option when looking to

Customer Question

Are Monster Travel "Credits" a good option when looking to sell a time share
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this.

Alex Watts :

What does the scheme entail please?

JACUSTOMER-11d49nli- :

Monster Travel have offered me £9000+ for my time share week - whicj is more that I expected.

JACUSTOMER-11d49nli- :

The deal involves me paying over the £9000 along with approx £7500.

JACUSTOMER-11d49nli- :

I get about 230,000 Monster Travel "Credits" which will be sold by Monster Travel in one year returning the investment to me.

JACUSTOMER-11d49nli- :

They say that it is all covered by "English Law"

JACUSTOMER-11d49nli- :

Correction: 290,933 creadits at £0.075p each = £21,820

JACUSTOMER-11d49nli- :

Their commission is £5,455 - leaving £16365

JACUSTOMER-11d49nli- :

Less the value of the time share - £9154

JACUSTOMER-11d49nli- :

Leaving me to pay £7211

JACUSTOMER-11d49nli- :

In one year they sell 272,750 credits and return £16,365 to me

JACUSTOMER-11d49nli- :

Leaving me with 18,183 "credits" for my personal use

JACUSTOMER-11d49nli- :

The paper work is from a company in the Seychelles "Complete Internet Solutions Ltd"

JACUSTOMER-11d49nli- :

Hi Alex - more information sent

JACUSTOMER-11d49nli- :

Is this what you needed?

Alex Watts :

And that releases you 100% from the timeshare? Is that what they are saying?

JACUSTOMER-11d49nli- :

yes that is correct - there are no monies or maintenance owing on my time share

JACUSTOMER-11d49nli- :

It seems to make sense - if these "credits" are worth what they are saying

Alex Watts :

And it says its governed by UK law?

JACUSTOMER-11d49nli- :

Thats what the salesman said...........

Alex Watts :

Do you have the contract or any contract?

JACUSTOMER-11d49nli- :

Yes i have the contract

Alex Watts :

And it says it is governed by UK law on the terms?

JACUSTOMER-11d49nli- :

The agreement is about 100pages in total - where should it state the legal information?

Alex Watts :

It should state it under Jurisdiction or disputes, somewhere there

Alex Watts :

Does that help?

JACUSTOMER-11d49nli- :

I can see nothing in the agreement relating to UK Law.

JACUSTOMER-11d49nli- :

monster travel seems to be trading under the atol licence of "Hollywood Marketing SLU" based in Tenerife

Alex Watts :

I see. In that case I wouldn't touch it

Alex Watts :

You want a UK company and any disagreement governed by UK law.

Alex Watts :

The problem is this - if it all goes wrong you need to sue in Tenerife

Alex Watts :

There have been many instances where people have been offered to offload timeshare for a 'fee' and it turns out that nothing ever happens - they have simply lost the fee

Alex Watts :

What you can suggest is that the money is placed in Escrow, a third party account

Alex Watts :

That way the money is held and as soon as you get confirmation from the timeshare company you have been released then Escrow can release the money to them

Alex Watts :

That is the best way of doing it - your money is safe

Alex Watts :

https://escrow.com/

Alex Watts :

Can I clarify anything for you about this today please?

Related Law Questions