These five little words make up the simple message TATOC is promoting as it tackles the issue of cold calling companies.
According to Mark Caldicott, TATOC Consumer Helpline manager, answering the phone to a cold calling telemarketer asking about their timeshare is an all too regular occurrence for most owners.
Every month the TATOC helpline receives hundreds of calls and emails from timeshare owners about cold calling and the companies making them.
From incredible re-sale offers to compensation-based group actions against timeshare companies, cold calling is happening more than ever.
TATOC does its best to help. A list of companies undertaking cold calling is published every month on the TATOC website and the association provides assistance to those who have fallen prey to any resulting scams.
“We have a number of timeshare consumer guides available on the TATOC website which help those who have been scammed get their money back through Section 75 of the 1974 Consumer Credit Act. But if owners have paid by bank transfer then the money is lost forever,” explains Caldicott.
A quick call to the TATOC helpline, the resort team, management company or committee can save owners thousands of pounds.
Yet owners seem reluctant to do this – and are not aware of the services of the TATOC consumer helpline which are available to all owners, regardless of membership.
“If owners want information, advice and a list of reputable companies, they should visit the TATOC website. For example if they want to find a list of legitimate re-sale companies, they can download consumer guide 14. This contains details of companies who have committed to TATOC’s consumer-focused re-sale code of practice and have been examined to ensure compliance.”
While it is not TATOC’s policy to approve or recommend any specific company, or to imply any particular success in achieving a sale, these companies follow the TATOC code of practice which provides a good deal of degree of protection and an indication that the company will act responsibly.
The implementation of the European Timeshare Directive has also had an impact.
While the number of enquiries about cold calling has fallen, TATOC is concerned that timeshare owners continue to become victims to cold calling companies – and losing huge sums of money.
Mark and the team are working with these consumers to help them recoup much of this.
“The implementation of the Directive has meant that dubious companies have had to find more inventive ways to scam timeshare owners. And once scammed, it seems owners are more likely to be scammed again and again,” added Caldicott.
It is clear that the scam cold calling companies are targeting elderly owners who are desperate to relinquish their ownership, as they can no longer travel to their resort or pay the maintenance fees.
And the cold calling scam companies are feeding off this desperation.
“In the summer issue of Sharetime magazine we detailed the distressing case of an elderly couple who lost over £56,000 to cold calling re-sale and bogus legal companies,” explains Mark.
“But TATOC can only do so much.”
Resorts, management companies and committees must accept that they have a responsibility to protect and educate their owners so that they do not fall prey to these types of scams.
“The owners in our case study had never heard of the Telephone Preference Service, never been educated about the European Directive or warned about potential re-sale scams and bogus legal firms by their resort or management company.”
TATOC believes timeshare owners should be forewarned and educated by their resorts and urges committees and management to promote the new message.
Consumers can report cold calling to the TATOC consumer helpline on 0845 230 2430 | 0345 230 2430 or by email at This email address is being protected from spambots. You need JavaScript enabled to view it.
