Financial Conduct Authority (FCA) issues warning about timeshare exit business Termination Services Limited
The FCA has advised that Termination Services Ltd. is not an authorised firm and is targeting people in the UK. Based upon information the FCA holds, it believes this business is carrying on regulated activities which require authorisation.
The directors of Terminations Services Ltd are Robert Pinker and David Rhodes. They are also directors of Timeshare Legals Ltd. This business is also not an authorised firm. Both companies state that they are based in Watford.
Both businesses also state that they are working with a Spanish law firm – JLCA & AS.
Robert Pinker was previously a director of a regulated Claims Management Company (CMC) named Olton Alexander Ltd., but information on the Timeshare Legals website reveals that serious and concerning disputes have arisen. It states:
“Timeshare Legals – Is No longer Associated with Olton Alexander Limited.
On 1st January 2019 Timeshare Legals merged with Olton Alexander, Timeshare Legals was the trading name of Olton Alexander Limited. Our agents and staff work with and became a payment agents for Olton Alexander. Due to lack of commitment from Olton Alexander, Timeshare Legals severed its partnership with the company on 30th June 2019. Timeshare Legals is no longer a trading name of Olton Alexander and is now the trading name of Timeshare Legals Limited. Timeshare Legals Limited has no association with Olton Alexander.
It has been quite apparent over the last few weeks if not months, that the increasing number of clients are complaining to Timeshare Legals about Olton Alexanders performance and commitment to pursuing their claims has been extremely lacking. Moreover, very little or no works have been done. We have been frantically trying to help with the problems, the clients are facing from Olton and with the promise from Olton that this will be rectified. It has now become increasingly apparent that this has not been done.
Olton Alexander has been telling clients that they have had no money from clients, when we have proof that they have been paid and emails from Olton confirming they have indeed received money from TSL regarding the clients claims matters.”
If you are a timeshare owner that has engaged with Termination Services Ltd or Timeshare Legals Ltd and are concerned, you can contact Citizens Advice. If you are concerned about Olton Alexander Ltd. you can contact the Financial Conduct Authority. Complaints about services provided by Olton Alexander can also be filed with the Claims Management Ombudsman.
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