Timeshare Loan Write Off
Asset Link Capital (No 1) Ltd vs Miss G Truro County Court, May 2009
On 1 July 2006, Mr G and Miss G signed up with Leisure Time Promotions Ltd (Exeter) to purchase membership of VIP Club. At the same time Miss G signed a loan agreement with GE Money to finance the VIP Club purchase.
There followed extensive correspondence between Miss G and GE Money over claims by Miss G that Leisure Time Promotions had misrepresented the benefits of VIP Club membership. Miss G argued that GE Money were jointly responsible for the misrepresentation under the Consumer Credit Act 1974 . Miss G refused to pay GE Money.
Or Call on 0845 519 6093 to speak to a Mis Sold Timeshare Expert.
In August 2007 GE Money assigned the debt to Asset Link Capital (No 1) Ltd.
Miss G continued to claim misrepresentation by Leisure Time Promotions arguing that Asset Link were equally liable under the Consumer Credit Act 1974 as were GE Money. Asset Link denied that they had any liability under the Consumer Credit Act 1974 and took out a claim in the Truro County Court seeking payment of �12,786 from Miss G.
Court hearing (Case number: 8X155018)
The court eventually heard the claim on 10 May 2009.
The judge stated that there were two issues to be considered:-
- Whether the Consumer Credit Act 1974 applied in this case
- If it did, were there misrepresentations by Leisure Time Promotions.
In respect of whether the Consumer Credit Act 1974 applied , Asset Link, in a sudden change of position, admitted that it now considered that the Consumer Credit Act 1974 did apply. Additionally the Judge considered that this was �settled law� and decided that the Consumer Credit Act 1974 did apply in this case.
In respect of the claimed misrepresentations the Judge concluded that, of six specific examples of misrepresentations claimed by Miss G , five were misrepresentation that induced her into purchasing from Leisure Time Promotions including one which the Judge decided was �fraudulent misrepresentation �.
The Asset Link claim was dismissed and Miss G was awarded costs.
We don't support that Miss G was a client of ours or that we acted in any manner for such person , however , if your situation in any way reflects the experience of Miss G then we can pursue a claim against the lender on your behalf.
Also see: Leisure Time Promotion Claims, Timeshare Scams, Incentive Leisure Group Claim and Mis-sold Timeshare Claim
How do I start my timeshare claim?
You can start your mis-sold timeshare claim by either calling our timeshare claim line on 0845 519 6093 or completing our online claim form and we will call you back.