Hello my name is Alex and I will help you with this.
What does the scheme entail please?
Monster Travel have offered me £9000+ for my time share week - whicj is more that I expected.
The deal involves me paying over the £9000 along with approx £7500.
I get about 230,000 Monster Travel "Credits" which will be sold by Monster Travel in one year returning the investment to me.
They say that it is all covered by "English Law"
Correction: 290,933 creadits at £0.075p each = £21,820
Their commission is £5,455 - leaving £16365
Less the value of the time share - £9154
Leaving me to pay £7211
In one year they sell 272,750 credits and return £16,365 to me
Leaving me with 18,183 "credits" for my personal use
The paper work is from a company in the Seychelles "Complete Internet Solutions Ltd"
Hi Alex - more information sent
Is this what you needed?
And that releases you 100% from the timeshare? Is that what they are saying?
yes that is correct - there are no monies or maintenance owing on my time share
It seems to make sense - if these "credits" are worth what they are saying
And it says its governed by UK law?
Thats what the salesman said...........
Do you have the contract or any contract?
Yes i have the contract
And it says it is governed by UK law on the terms?
The agreement is about 100pages in total - where should it state the legal information?
It should state it under Jurisdiction or disputes, somewhere there
Does that help?
I can see nothing in the agreement relating to UK Law.
monster travel seems to be trading under the atol licence of "Hollywood Marketing SLU" based in Tenerife
I see. In that case I wouldn't touch it
You want a UK company and any disagreement governed by UK law.
The problem is this - if it all goes wrong you need to sue in Tenerife
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
What you can suggest is that the money is placed in Escrow, a third party account
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
That is the best way of doing it - your money is safe
Can I clarify anything for you about this today please?