Silverpoint was a timeshare resort chain which declared bankruptcy on January 15, 2020. A large number of investors and others had invested a large amount of their money in the timeshare, since they were promised that they could resell the timeshare later at a higher price and make a huge profit. When Silverpoint declared its bankruptcy, many investors thought that they had lost all their money. However, despite the silverpoint timeshare liquidation, investors who have invested money can recover some of their investment using the legal provisions like the consumer credit act with our help.
Silverpoint had several resorts in Tenerife which were popular like
– Palm beach
– Beverly hills club
– Beverly hills heights
– Hollywood Mirage
– Club paradiso
The Silverpoint investors were promised that they could resell their timeshares at a huge profit. Silverpoint was extremely aggressive in selling its timeshares to the investors, inviting them to eight hour presentations, in which the sales people promised excellent returns to those who attended. The high pressure sales tactics adversely affected the judgement of the investors, resulting in flawed decision making and some of the investors have invested a large part of their savings in the time share. So when the Silverpoint timeshare bankruptcy was declared, it adversely affected the finances of the investors since they cannot use or sell the time share
Making a claim
However, the Silverpoint investors can try to recover a part or entire amount which they have invested using the provisions of the 1974 consumer credit act. TimeshareFinanceClaims helps the investors recover the money which they have invested in timeshares. We work on a no win, no fee basis, so that the investors do not have to pay us anything upfront for making the claim. To make the claim the investor has to provide some information like
– amount invested in the time share
– The number of years for which he owns the timeshare (at least ten years)
– number of years for which he has already paid the annual maintenance fees which are being charged.
After we receive the details of the claim we will contact the timeshare investor to get more details of the investment. In some cases, he may have only invested once, or in other cases, he has invested money repeatedly. So based on the information we get we will finalize the strategy for recovering the money invested. In some cases, we will require some additional information from the investor like details of his payment to Silverpoint, any documents which he has received from Silverpoint acknowledging that he has invested the amount.
Investors should be aware that they can recover some of the payment which is made through Barclay’s Partner Finance under the provision of the 1974 act. There are several provisions using which the finance company can be held liable. The payments for the timeshare which are made through credit card can also be recovered by the investor. We will provide different options for recovering the money to the Silverpoint investor, and try the best option first.