I purchase a service contract from warranty gold in october.in september i took my car to my local dealership to have a covered item repaired. I was contacted by the dealership and was advised that warranty gold is not paying any claims and are in bankruptcy.
I contacted warranty gold service department and was advised that they are not paying claims at this time and that the third party administator that they were using had filed bankruptcy in june and referred me to another website to see all the court filings. After looking at the web site it was clear to me they new the company was filing bankruptcy as early as feb but did not notify any of thier customers of this and continued to debt my credit card the monthly payment that was paid in full in sept.
I have also looked at thier web site which claimed that you pay your money to warranty gold and that they were double insured and that you did not have to worry about a unknown company going out of buisness because your money stayed thier. It sounds real good but that is not the way they do it and you would be at risk the same way i was. For those of you who are in the same situation as i was try what i have done.
If you made payments with your credit card for 10 months as i did, i called my credit card company and asked them if i could contest any of the charges that i had paid warranty gold and told them of the circumstances and also sent them copies of the court filings that were posted on warranty golds web site. I was advised that they may be able to contest up to 4 months worth of charges.
I figured that was better than nothing and worth a shot.in the end they got all my money back and gave warranty gold 60 days to respond to justify their charges, which they don't have a leg to stand on. I hope this helps someone else also so that you may get some of your money back.
Good luck
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