Warranty Gold Warning

[mustang65bob]

There has been some discussion about Extended Warranties in the past. I purchased an Extended Warranty for my 99 Pontiac when I purchased it. I chose Warranty Gold. Today I took my Pontiac for some repairs and learned that Warranty Gold is Bankrupt and that I will have to pay for the repairs and the Courts may award me some money.

My warning is that Warranty Gold is STILL selling extended Warranties. If you purchase a Warranty Gold policy beware that they may not honor the warranty. For more information go to www.warrantynews.com

Bob

[paulsen]

What a scam! Sell the servicing to a 3rd party w/o letting you know, they go bankrupt and the company that took your money does jack for you. Even if you cancel your contract, they won't give the promised pro-rated amount back to you.

Good luck w/ this. Let us know how how it goes.

[Wiley]

File a claim with the bankrupcy court. Send only copies of your repair paperwork, keep the originals for your self.

As they are an insurance company file complaints with the insurance commissioner in your state and the state and federal attorny's general for fraud.

You may not get anything out of it but it couldn't hurt.

[mustang65bob]

Thanks for the feedback. I have resolved that I am most likely out the $875.00 I paid for the extended warranty. I am most concerned that Warranty Gold is STILL selling extended warranties. The main reason for my first post was to make people aware of what is going on with Warranty Gold. Hopefully those who read these posts will seriously consider sending any money to Warranty Gold.

With my tongue in my cheek, maybe if a lot of people will go out and buy Warranty Gold products, then maybe Warranty Gold will honor its contract with me. It would be easier if anyone considering a Warranty Gold product would send their money to me, then I could pay for my service. And most likely Warranty would not pay for their serivce, so it doesn't matter if they send their money to Warranty Gold or to me. The only difference would be I would get their money instead of Warranty Gold. If anyone is interested in this arrangement, I suspect I could make up an extended warranty that is as worthless as the one that would be issued by Warranty Gold.

If anyone is interested, send me a personal message and I would be happy to take your money and give you a worthless piece of paper. Make your checks out to UNwarranty Lead.

Bob

[dephelps]

I too had a warranty gold policy on my 97 Plymouth Voyager. I had purchased the top of the line 7/100 warranty with 0 deductable. When I picked up a 98 Dodge 3500 Cummins diesel, I called warranty gold and purchased a second policy. When I checked the status of the original policy they never mentioned the bankruptcy or the fact the warranty was no good. The just verifed the original dates and said it was still good to go. A couple of months later I inquired about taking the voyager in for repairs and was told the underwriter for all warranties sold before ???? date had filed bankruptcy. Same story, although the new policy on the dodge 3500 was still good. Before I sold the truck I had $9000 in claims in 6 months so I ended up getting my monies worth. Overall I feel I won this one, but beware any 3rd party warranty company is only as good as the underwriter the company is using. I learned my lesson, from now on I will only buy warranty from the mfg. In addition I sold all my dodge products, and now drive foriegn...I decided I could not afford the cummins at $3000 per trip to mechanic...