"Warranty Gold" Claims

gregoryc1 · February 2005

Keep vehicle ownership "SIMPLE"! Purchase a manufacturer's extended warranty, and have the dealer perform preventive maintenance, so all the vehicle's service records are in one location. Then if you are traveling, and a major problem occurs, the servicing Honda dealer can get your records from the selling / servicing dealer in your home area. Service then becomes simple. My Honda dealer offers a oil and filter change for $19.99 + NJ tax. Unless you perform this service yourself, I doubt that a "fast lube service" could perform this service at a cheaper price.

Kirstie_H · February 2005

You can't post addresses & other contact info that don't belong to you.

PAman · March 2005

Interesting to notice the overlap between his new ripoff (started 1999) company and his old one (collapsed 2003). Hmmmmmmm.....

As for laughing all the way to the bank, that doesn't describe the entire trip. He will be laughing all the way to Hell.....

Luke 9:25:
"What good is it for a man to gain the whole world, and lose his very soul?"

PAman · March 2005

Here's the text of my message:

Here are a couple of new FAQs you need to add to your Web site:

Question 1. Where does my money go for the warranty after you get it?

Answer1. First we take out our commissions. Whatever is left we funnel through a shell company in the Cayman Islands, and after paying out a few claims, the rest ends up in Kurt Nelson's pocket so he can start a NEW warranty company in a few years. As you may remember, Mr. Nelson 'lost' millions of dollars paid by his Warranty Gold customers/suckers years ago when the money mysteriously disappeared in the Cayman Islands.

Question 2. Will there be anything I can do?

Answer 2. No.

Question 3. What will happen to the people responsible?

Answer 3. They will pretend to be concerned, worried and involved during numerous interviews with the news media. Then they will lay low and suddenly start a new company down the stree here in Austin. Other than that, nothing.

cadillacmike · March 2005

"A noble piece of advice coming from a person with the screenname "isellhondas". Doesn't that make you a little biased?? Pardon me, but I have to take issue with your post. Up until the Warranty Gold fiasco, EVERYONE AND THEIR BROTHER was recommending NOT purchasing the factory extended warranties (except new car dealers). The recommendation was to go with a well-established third-party warranty company with a good reputation. Warranty Gold was the most popular and most highly-rated warranty company a few years ago, if you recall. There was no amount of extra 'homework' that ANYBODY could've done at that time that would've tipped them off that Warranty Gold was an online Titanic. Last thing we need in this forum is someone coming here with a parenting attitude saying "I hope lessons have been learned here." Pour some salt in somebody else's wounds, please. Enjoy your extended warranty commissions, BTW. "

The entire post above is UNCALLED FOR.

While I may personally disdain honda automobiles, isell was completely correct in his assertions as is nearly everyone else here. The factory warrantys may cost more (they usually do), but they pay up on the repairs.

READ THE POSTS about how the aftermarket folks start squeezing and delaying, etc once you start to get near the magic number.

cadillacmike · March 2005

Isell,

You actually bought a NEW Cadillac?!?!?!?

Oh, i see it was a 1987. That might explain why you might not like them anymore.

You'll notice that my vehicle repitoire specificaly excludes the period from 1972 thru 1992. There's a reason for that.....

-mike
1968 DeVille Convertible
1995 Fleetwood Brougham
2000 Eldorado Convertible
2005 CTS

rpoole · April 2005

Mr Nelson is the front man, and perhaps he is foolish on account he would be that; but, instead, look at all the investors and owners, and I think you will see some not too suprising info. Request incorporation filing at corpinfo@sos.state.tx.us if you are interested. This is the email for the Texas Secretary of State, who handles incorporations.

Poole

bagimin · April 2005

anyone received this letter from Austin attornery's asking us to vote for plan of liquidation....further stating that there are funds yet to be dispersed.
Should we vote yes on this plan or just let it ride?

mikefm58 · April 2005

I got mine in the mail today too, haven't read it yet. Hoping to find some advice here on which way to vote.

stoneybroke · April 2005

Ditto!

illini4 · April 2005

Check the Automatic Allowance of Refund Claims - statement in bold print. If I understand this correctly, if you terminated your contract, and payments weren't made through November 11, 2003 you won't be receiving any refund. I'm in that category, as I expect may othere are too. The option is to pay them the missing payments through November 11, 2003, then you would possibly get a refund. I might have been dumb enough to by a Warranty Gold contract, but I don't think I will be sending them any more money at this point!

mikefm58 · April 2005

That's a good one. Who would have been stupid enough to keep paying premiums through 11/11/2003?

But since cancelling the contract prior to 11/11/2003 is still OK according to the contract, might I still get something? If I had simply stopped paying them, for example in Sept 2003, then I'd get nothing.

So "maybe" I'll get a partial refund.....I'm holding my breath....

stargazer1 · April 2005

You might want to check the Warranty Gold Creditor's Committee web-site as there are some posts there about various other claimant's review of the various documents (which were referenced in the Court notice attached to the lawyer's letter), which BTW, were finally posted today on WGNews web-site.

cadillacmike · April 2005

Don't hold your breath.

The Lawyers will take 90% of any amounts "recovered".

xpfshost · April 2005

I'd rather take my 10% than donate another 10% to the lawyers.

xpfshost · April 2005

I read this differently. As long as you completely paid for your contract, you're entitled to a refund (however small that may be). If you didn't finish paying for your contract (payment plan people who stopped paying), you won't be entitled to a refund unless you pay them the rest of your contract purchase price. Also, if you obtained a charge-back from your CC company, you aren't entitled to a refund. Of course, everyone will read this differently, but that is my take on what is actually stated. Whatever. Send me my $10 bill and be done with it.

1stgenbird · April 2005

I purchased a Warranty Gold contract in September 03, just a few week prior to the bankruptcy announcement. My contract was unaffected. When I purchased it, one of the benefits I was told is that it could be transferred to a new owner when the vehicle was sold. I am selling my vehicle and when I called WG's contract holder, I needed to submit proof of all maintenance performed on the vehicle. I told the person that I do all my own oil changes and do not have any maintenance performed at a shop. I then was told that I needed to submit all of my store receipts for any oil and filters I ever purchased or I couldn't transfer the coverage.
What a crock!!! I typically don't save receipts nor was I told that that was a requirement of transfer when I purchased the contract.

mikefm58 · April 2005

You ALWAYS need receipts for maintenance items. For example, If you've got a load of oil sludge in your engine, the first thing you have to PROVE is that you've had the oil changes done.

Not a crock at all.

Now I'm not sure of this being a requirement for transfer. Anything like that written in your contract?

skhori · July 2005

Well I guess it had to happen since the committee never took an interest.......

stargazer1 · July 2005

Fortunately (or unfortunately depending on your point-of-view) they're back up again.

skhori · July 2005

Yes, I see that its up again (for all the good it does). Has anyone tried contacting the administrator of the site directly?

xpfshost · July 2005

Haven't tried contacting the admin...just glad there's at least one other person there who is in the same situation as me

BTW, received a notice from the bankruptcy court today titled "Notice of Order Confirming Plan". One line there says the following:"Application for final decree due by 1/16/2006", so this thing is going into next year. :mad:

flamanar

skiingj · July 2005

Received the same notice. Not sure what it all meant...but for sure another six months of lawyers eating away at the pot.

stargazer1 · July 2005

The following is the text of an e-mail that I just sent to WG's lawyer. It should be interesting to see what, if any, positive response we all receive.
"Since the Bankruptcy Court has now give Preliminary Approval to the Liquidation Plan, it would be helpful to many of us who are not lawyers if the News/Legal/FAQ Pages on the WG Web-Site were updated to describe the process that is now occurring, what we might expect to happen, and when. Thank you."

stargazer1 · July 2005

Here is WG's Lawyer's reply:
"We're actually working on that right now. Hopefully, it will be
updated by the end of the week."

ronsmith38 · July 2005

I am just revisiting this site after a long absence. I too was stung by WG. What is the link for the WG website?

stargazer1 · July 2005

http://www.warrantynews.com/news.asp;

geo9 · July 2005

http://www.warrantynews.com

stargazer1 · July 2005

HOWEVER, as of this morning (Saturday) they have yet to update the site. So what's new!!!!!!!!!!

redline65 · August 2005

I haven't seen any updates in a while, is this in class-action status now or is there still hope that we will get some of our money back that they are holding?

audia8q · August 2005

Class actions suits rarely benefit anyone but lawyers....they get millions and you get a $20 coupon towards something. Did you try legal action on your own??

redline65 · August 2005

My losses weren't really substantial enough to take legal action on my own ($400 or so). I'm hoping the courts will order the company to distribute the funds to us, but I'm not holding my breath. I agree though, the payoff from class action suits is often a joke.

musclecars · August 2005

unfortunately my losses were much more substantial...never been through something like this before...net, net what does anyone think our chances are of getting some of our money back? My contract was paid in full, and it appears from the ruling (which I just read) that class 3 (WGVSC) claiments have a pretty good shot...just don't know.

cadillacmike · August 2005

"Class actions suits rarely benefit anyone but lawyers....they get millions and you get a $20 coupon towards something. Did you try legal action on your own?? "

Or in the case of Jiffy Lube, you get $5 coupon :P

mikefm58 · August 2005

" Or in the case of Jiffy Lube, you get $5 coupon "

And in the AT&T case, you get an AT&T calling card......Oh boy..

stargazer1 · December 2005

Does anybody know whether the WG News web-site and the WG Creditor's Committee web-site are still live web-sites? Nothing has been changed on the former since last April, and on the latter since last August. I just tried to post something on the latter and failed. I received an error message "FrontPage Error", whatever that means.

skhori · December 2005

I've been trying to post to the Creditor's site and get the same error - I've written to the administrator, but no response.....there is updated info (Oct, 2005) on www.nwig.com however.

stargazer1 · December 2005

Thank you. I know about the updated info on the other site. I just wish I understood what that info really means to us. That info (and questions about it)was what I was trying to post on the WG Creditor's Committee Web-Site, and it wouldn't accept either that post or an e-mail message to the Committee. I guess they're just going to leave us all out in the cold while they spend all of the available funds on themselves.

mikefm58 · December 2005

" I guess they're just going to leave us all out in the cold while they spend all of the available funds on themselves. "

Yep, time to learn from this experience and move on. I've been preaching to never buy anything but a manufacturer backed warranty at every chance I get.

yurakm · December 2005

And what if the manufacturer will go belly up?

mikefm58 · December 2005

" And what if the manufacturer will go belly up? "

You're right, nothing is 100%. Ever hear of Daewoo? Any warranty is only as good as the company standing behind it.

But who would you feel safer with, Toyota / GM / Ford / Honda / Chrysler or someone like Warranty Gold / Warranty Direct / Auto Direct?

yurakm · December 2005

Absolutely agree: GM is better than WG. However, well known companies, like GE, used to be in the 3-rd part warranty business. I probably would prefer GE to GM as today.

audia8q · December 2005

Ever hear of Daewoo? Any warranty is only as good as the company standing behind it.

Actually Daewoo is a bad example since their warraties ended up being backed by GM.

stargazer1 · January 2006

It appears that they've even removed the links to documents on the WGNews web-site, and you can't even post anything anymore or contact one of the committee members by e-mail on the WG Creditors Committee web-site. The only related website that seems to keep up to date is that of the NWIG. It's going to be interesting to see if there is any "partial" distribution at the end of January to creditors as stated in WG's liquidation plan (at least in the last one posted - who knows what's happened since then). It's a pretty sad commentary on the overall situation, but not surprisingly, only disappointing.

mikefm58 · January 2006

I got a hearing notice in the mail about some hearing on 01/23/2006. Not sure what it means, but it looks like a hearing so the greedy lawyers can get paid.

stargazer1 · January 2006

I received the same letter and have the same assessment of its meaning. The hearing, and possibly others matters to be considered at the same hearing, hasn't shown up on the Court's calendar yet, because the date is too far in the future.

plantrustee · January 2006

FYI - After his appointment, both warrantygold.com and warrantynews.com (same site) were totally revamped by the Plan Trustee as of December 20, 2005 and have been updated several times since. As circumstances warrant, this site will be timely updated going forward.

stargazer1 · January 2006

I saw your message and went back to the site. Before I did anything else, I "refreshed" each and every page. There was no apparent change. Each page showed a last revised date of over nine months ago. I then went to almost every link on the site and every one I tried stated that the specific page could not be displayed. I have been going back to the site on a weekly basis for several months, and haven't seen any change (at least not any visible to me) on December 20th, 2005 or any subsequent time that I have visited the site. Any thoughts, please!!!!!!!!!!!!!!!

plantrustee · January 2006

I'm not a computer expert by any stretch, but having said that, it sounds like you may be working offline and viewing older versions of the site stored on your computer.

I've directed many contract holders to the new site and none have reported any problems. I also get e-mail questions and changes of address through the revamped site each day, so I'm not sure why you are unable to view it.

stargazer1 · February 2006

Thank you. You are correct - my bookmark took me to the old site. Please note that even your reply of last week to an even earlier e-mail of mine didn't provide the URL of the new site - I just tried variations of the old URL until I found the new site (http://www.warrantynews.com/).

"Warranty Gold" Claims

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