Last post by devil in disguise - November 18, 2019, 10:57:36
Mind Timeshare is reporting another cold caller and name them as being the Timeshare Termination Team (UK).
The website does not contain any company details however, does infer that it is in the trading style of Exit My Timeshare Group, which is a legitimate timeshare, existing in the USA.
That said, this website is nothing to do with 'Exit My Timeshare Group', so the operators of this website have either hijacked this company sterling reputation or at least are cybersquatting on the reputation of others for the purpose of getting credibility which they do not deserve.
Those behind the website claim to be located at Penstraze Business Centre, Penstraze, Truro, Cornwall, TR4 8PN which is confirmed on their website see here.
Noteworthy is; another so-called Timeshare claims experts are also located at the same registered office and they are identified as being 'Claims Experts 4 U.
Again, they are not a company but, in this case, like the other advertise they too operate in a 'trading in a style' this time as Mercantile Claims Management Solutions Ltd.
If mind timeshare is correct and I have no doubt they are the owner of the website is ramping up its sales of terminations by the use of unethical cold calling procedures.
Noteworthy is, UK legal companies should not be engaging in unethical 'cold calling' practices and should you engage with them, you may experience 'choppy waters'.
Exit My Timeshare Group
The website seems to be full of inconsistencies and the website claims to have been around since 2014, but the web was only registered in June 2019, so they are lying to those who visit the web page.
So far, they claim to have terminated over 500 Timeshare contracts and recovered over £600,000 in claims for their clients. Which is impossible as they have only been advertising for 4 months.
Like the timeshare termination claim experts 4 U was registered on the 10 of October 2018 however was only updated on the same day in 2019 (less than 1 month ago).
They claim 'We are claims experts', but that expertise is not qualified nor has any experience been justified. It is claimed that they have many years of experience in handling consumer claims but they do not give any regulatory information.
They explain there are many 'fake review' sites and fake testimonials on online selling sites, it really is a lottery as to who is good and who is bad. As they are claiming to much complain about Mercantile Claims and do not identify them fully one can assume this is another attempt to get clients and by covert means.
Last post by TimeshareTalk - November 15, 2019, 15:22:31
Payment systems have an important, although sometimes overlooked, role in the broader UK financial system. Facebook's proposal to launch a digital currency for retail payments within its network has prompted regulators to consider their approach to innovation in the payments sector more generally. At a recent meeting of its Financial Policy Committee, the Bank of England suggests how these innovations should be assessed.
Three principles for ensuring payment systems support financial stability
In the record of its latest quarterly meeting, the FPC welcomes the exploration of alternative ways to improve cross-border and domestic payments. However, ensuring new solutions support financial stability is a key concern. And so, the FPC has agreed the following three principles for assessing how regulation should respond to fast-moving developments in the payments sector.
Principle 1 - financial stability risk is more important than legal form Firstly, according to the FPC, regulation should reflect the financial stability risk, rather than the legal form, of payments activities. In other words, the same level of risk should attract the same level of regulation. The FPC's concern is that use of innovative forms of payment (such as digital assets) could become widespread but not necessarily subject to the same level of regulatory oversight as prevailing payment methods (such as debit cards). The FPC reiterated the point that innovative structures are making it increasingly important to apply regulation based on functions undertaken rather than merely the type of entity involved. See also our blogpost on Protecting the financial system as the market changes.
Principle 2 - every link in the payment chain should be resilient Secondly, the FPC calls for end-to-end operational and financial resilience across payment chains. Payment chains typically connect payers and payees via multiple payment services firms, payment systems and other financial market infrastructure. Their length and complexity have been increased by new technology and new market participants. The FPC is concerned that, when it comes to resilience, these chains are only as strong as their weakest link. For example, it notes that: "The resilience of the proposed Libra system would rely on the stability of not just the core elements of the Libra Association and Libra Reserve but also the associated critical activities conducted by other firms in the Libra ecosystem such as validators, exchanges or wallet providers". Operational resilience is a regulatory priority and the UK regulators, including the Bank of England, are going to propose new rules and guidance for financial institutions shortly. Read our publication on Building the UK financial sector's operational resilience for more.
Principle 3 - data should be made available so that risks can be monitored and addressed Finally, according to the FPC, sufficient information about payments activities should be made available. Their concern is that supervisors may be blindsided to risks that could emerge from innovative payment systems. With more data, there is more chance of identifying risks to financial stability and addressing them appropriately.
The potential systemic importance of Libra
In the FPC's view, Libra has the potential to become a systemically important payment system. This means it would need to meet the highest standards of resilience and be subject to appropriate supervisory oversight.
The FPC stressed that the terms of engagement for innovations such as Libra must be adopted in advance of any launch. This echoes comments previously made by Mark Carney on Libra - see also our blogpost on Paving the road for a diversity of payment options.
What is the Financial Policy Committee?
The Bank of England's Financial Policy Committee looks out for risks in the financial system. As well as payments, its latest meeting considered Brexit, the UK-China trade war, the liquidity of some investment funds and LIBOR transition.
The Treasury is leading a review of the payments landscape which includes looking at its resilience and how regulation can keep pace with innovation. The FPC suggests that its principles could inform any assessment of current payments regulation in that review.
Last post by TimeshareTalk - November 11, 2019, 17:31:15
..................... In this backdrop and the stage set, I can now move on the case of Sarah Waddington Solicitors which operate out of the 1st Floor extension at Widbury Barns Ware Hertfordshire.
They are a firm of solicitors and claim to provide expert Timeshare Legal Services. To date, they have taken £ millions each year and from consumers for legal services yet to be rendered. They charge upfront fees and are required to hold that money to pay for future services. A simple inspection of their accounts shows that this firm has little in the way of funds to pay for the services yet to be rendered. In fact, as at the 31st of July 2018, they only had £11,663.00 of funds to continue the legal services. Noteworthy is in these accounts they did not publish their sales.
Waddington's did in 2017 publish sales of £1,900,984 and despite those sales they only retained £12,285.00 in reserves, having spent over 50% on marketing costs £102,00 on consultancy work and other expenses.
Projecting the sales into 2018 and 2019 they will have taken circa £5,500,000 and have only retained £11,663.00 in which to fund the work required of them.
The firm is headed by Miss Sarah Waddington however, her operation is overseen by her boyfriend Mr Perry Booth who gained notoriety as he was accused by his former employer of being an aggressive timeshare sales manager.
Mr Booth was dismissed from his employment for the alleged aggressiveness and that aggression does not end there as he was recently convicted in the criminal courts for aggressive behaviour against a worker in an estate agency.
During his courtship of Miss Waddington her practise ballooned exponentially and on account of the sales made by Mr Booth (her co-habited and business partner). He drove in by way of reported marketing companies 000's of clients all seeking a termination from cumbersome timeshare products sold to them (in some cases) by dilettante Mr Booth.
I do not buy into the claim that Solicitors should be paragons of virtue as clients need only; the provision of good legal services offered, delivered and fulfilled in line with their client's instruction. the SRA Rules and their sworn duty to the court.
However, the Solicitors you instruct should have a well-grounded understanding of the legal issues - the instructing client faces. In the case of Waddington's and their principle this grounding comes from the mind of a timeshare salesman and a baseless knowledge of the law.
Evidence exists that Miss Waddington lacks the required knowledge and understanding and how to deliver the service she is paid to do. In fact, I should go further in that the £ million have been taken by Waddington's, in advance and the majority of the money has been squandered by Mr Booths on marketing costs leaving very little in the way of money, to carry out the legal work promised.
Chucking the clients under the bus
The reality is, Waddington's are being investigated by the SRA and in an effort to redeem themselves Waddington's are operating 'a pump and dump service'. Pump the clients for money and dump the files in a closet. At this firm, the client pays up front, and the promised work is unfulfilled and in preference to cavorting with celebrities and rocking up in Parliament in a manner aligned to 'Thenardier' in the Les Misérables wedding scene.
As Waddington's woes escalate, and the lack of case progression, poor service and concealed inactivity is being exposed by the SDT, Waddington's have approached a Spanish Timeshare resort in an effort to cut one of the dodgiest deals in timeshare history.
The terms of the deal were presented by Mr Perry Booth as the Director of Business at Sarah Waddington's Solicitors.
The Deal proffered by Mr Booths was
Last post by Athena Law Solicitors - November 06, 2019, 22:41:31
Just received instructions from a client who was threatened with a summons by one of the "Plastic Certificate" termination companies. Not happy with being asked to pay £4000 for supposed "no termination no fee" service. If you have one of these disputes it really is not too difficult to identify the failings with the indemnity certificates and fortunately when defending claims for disputed exit services one is helped by the fact that the contractual documents have been drafted by ex-timeshare salesmen......
Last post by Athena Law Solicitors - November 06, 2019, 22:33:57
When will people learn. Regulated solicitors and claims management companies cannot cold call. Their regulators prohibit marketing this way. If you are speaking to a cold caller they are either not regulated or regulated and are willing to act in complete disregard of their regulators which either makes them incompetent or untrustworthy.
Last post by APC Investigations - November 06, 2019, 15:48:24
They also trade as Claims Experts 4 U & Missold Claims Assist
Last post by APC Investigations - November 06, 2019, 15:46:09
They are not a Manchester Company and calls are diverted to Spain
Meridian Litigation Advisors SL
Newby on the cold caller list is Timeshare Expert Assistance. For the moment they seem to be targeting mainly owners from Azure resorts / Golden Sands.
The agent calling from Timeshare Expert Assistance puts a lot of pressure on the owners by stating their resort will soon go into administration and all those who have a timeshare with them will lose their investments.
That sounds stressful!
But, the member is still on time to take action and they can do so with the help of Timeshare Expert Assistance.
The timeshare owner is offered a home visit by one of their "experts" to assess the situation with a view to taking legal action to recover the investments.
Timeshare Expert Assistance is supposedly based in Manchester as they use the telephone number 0161 738 1789.
But their website https://timeshareexpertassistance.com/ does not contain much more information, and as a matter of fact, it does not even mention an address or telephone numbers.
All you get is a Contact form and an email address: email@example.com
The website was registered last month September, so that is not even 1 month they have been around.
No Companies House number, no names of legal companies that would be handling the supposed claims, nothing.
Please be careful whom you invite into your home and to whom you submit personal and private details.
As far as we know, lawyers do not really come to your house to assess a claim.
When receiving cold calls as mentioned above, always do your research, ask questions and get real facts.
Last post by TimeshareTalk - November 06, 2019, 15:20:06
The Timeshare Termination Team operating a UK legal company owners by Mercantile claims have now commenced a cold calling operation reports Mind Timeshare
Mercantile claims are FCA approved so they are operating in contravention of it regulatory rules and common ethical behaviours
Another cold caller has been brought to our attention this week, this one by the name of Timeshare Termination Team UK.
This company is not to be mistaken with a company by the exact same name which has been doing business in the USA for years.
The one that is cold calling mainly UK consumers is Timeshare Termination Team UK with their website timeshareterminationteam.co.uk
On the website, it is mentioned that Timeshare Termination Team is a trading style of Exit My Timeshare Group. However, we all know this is another unregulated tin pot lawyer that operates dubious practices.
The website seems to be full of inconsistencies. They claim to have been around since 2014, but the web was registered in June 2019.
So far, they say they have terminated over 500 Timeshare contracts, and recovered over £600,000 in claims for their clients. Which seems an awful lot of money in only 4 months' time and having regard for the fact it takes a least 12 months to a claim into the courts.
In the different sections of the web, it looks like there is a lot of information, but we were unable to find, for example, a Companies House registration number for Timeshare Termination Team or Exit my Timeshare Group.
Contact details from the web are:
Penzance Business Centre, Penstraze, Truro, Cornwall, TR4 8PN
Last post by TimeshareTalk - November 06, 2019, 14:55:36
A Massachusetts woman has pleaded guilty to embezzling more than $1.8 million from a Cape Cod timeshare resort where she worked.
Prosecutors say 63-year-old Donna Zoppi, of Eastham, was sentenced to up to three years in state prison after pleading guilty this week to larceny.
The office of state Attorney General Maura Healey says from 2008 until 2015, while the office manager at Harbor Hill in Provincetown, Zoppi wrote herself checks from the resort's account, used its debit card for personal purchases, made ATM withdrawals from the resort's account, and wired money directly from the Harbor Hill account to her personal account.
During the same period, Zoppi took lavish vacations, bought a horse for her stepdaughter, and purchased club level seats at Gillette Stadium.
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