WHAT WAS TIMESHARE?

The concept of a timeshare was to buy the annual use of high quality holiday accommodation at luxury resorts. You specify the time of year, and a unit at your selected resort which should have been yours exclusively each year for either a fixed term or for life.

When you owned a timeshare you were promised your week could be swapped for exciting locations at thousands of quality resorts throughout the world by using an international exchange organisation. This was supposed to be more flexible with your choice of resorts and destinations whilst retaining the same high standard of accommodation.

It was alleged that Timeshare was one of the fastest growing segments of the leisure industry, experiencing a 900% growth since 1980. Over three quarters of the owners surveyed were supposed to have said they had their "expectations matched or exceeded" with regards to their timeshare purchase, according to the American Resort Development Association's (ARDA) National Survey of Timeshare Owners.

If this is the case then why are many thousands of owners now looking to escape from their liability at any price?