Jim
Oregon,#2Consumer Comment
Wed, October 29, 2003
I read the comments on NWIG and Warranty Gold. I bought my policy thru Warranty Gold. They made the promises. They also never mentioned about NWIG being from the Cayman Islands. I have been corresponding with them about how they are back in business with a new "administrator" and how can they do such a thing? They have given excuses about NWIG or have been non-responsive. I have $1000 in repairs that I paid for and have been given the same responses from NWIG (about my claims) as other people. At this point, I will be happy to help divert ANY future customers away from Warranty Gold as long as they continue to sell new policies and not honor old ones. If this isn't a RIP-OFF I don't know what is.
Ken
Memphis,#3Consumer Comment
Wed, August 27, 2003
I purchased an extended warranty contract from Warranty Gold on May 9th 2003. I have been paying for this warranty monthly. Warranty Gold debited my MasterCard every month on the 23rd in the amount of $130. My initial payment was $419 back on May 9th2003. I just happen to call and inquire about my contract and that?s when I found out about the problems. I put a stop on all payments at the beginning of August. After June, this company started selling new warranties with a new administrator. Customer service stated that the future of our contracts depended on how much of the funds are recovered, if any, from the administrator that is being liquidated. Although I have only had this plan only 3 months and only 1,500 miles have passed, Warranty Gold stated that they could only reimburse $92 out of roughly $675 that has been paid. That is with no claims filed under this contract! This company should have notified their customers about their situation as soon as it came to light. Instead, the excuse that they gave was ?Well, we did not want all of our customers calling, tying up our phone lines. It looks like my contract was with WG. This should make them liable when the administrator can?t pay??
John
Davie,#4Consumer Comment
Tue, August 26, 2003
I bought an extended warranty from Warranty Gold in Feb.2003. And it turns out that this company, NWIG, was also the admininstrator of my plan. In June, I found out, through edmunds.com, that NWIG was insolvent and various proceedings were taking place. I contacted Warranty Gold and they let me skip my June payment. But when it came time for my July payment and this was still not resolved, and Warranty Gold would not let me skip another payment, I cancelled my plan. So I was out $849, but at least I held back from paying them the remaining $1050. I have complained to the Texas Attorney General, (Warranty Gold's home state), to seek reimbursement for what I did pay. For anyone who has not paid all of their contract with Warranty Gold, I strongly recommend not sending another dime, and try to get a refund.
Tim
LINCOLN,#5UPDATE Employee
Tue, August 26, 2003
I have been an employee of NWIG for 2 1/2 years. I do honestly understand the problems that you are having. However, I want you to think about this for a minute we may have something in common. You are a single parent with health issues (stress makes you have these issues more often). You bought a service contract to help with spendy repair bills. You paid $3000 for a service contract (sounds like the dealer ripped you off to me). Now here is my story after being with a company for 2 1/2 years One day we are all told that we can no longer authorize claims to be paid out, because the largest part of our buisness is no longer funding accounts for any buisness to be processed out off. Now the calls start coming in and all that we can do is explain what is going on. Now the customers are irate yelling screaming and carrying on over something that nothing could be done about. Once in Joint Provisional Liquidation no claims could be authorized or paid out. Transfers and cancelations could not be run. Does this sound familiar? Sounds like a whole lot of stress to me. Finaly August 1 comes around and the job you have been doing will most likely not be there much longer, but you dont know how much longer. Insert wife that does not work and 2 kids ages 4 and 1. Hard to support a family with no income? Finaly Official Liquidators give us notice on August 13 that there will be alot of people being laid off with no possibility for recall on Oct 10. Ok so in about 48 days I will be unemployed along with all but about 20 people that will be doing financial reconciliation for a short amount of time. Bottom line is you are out $3000 for a service contract meanwhile 60 people are out of a job. Not to mention the employees that will be out of a job and a service contract. I know this doesnt make things any easier for you or your family. But before you go bashing on the employees or the company that they are employeed by. Take a step back and look at the big picture. On another note I know that NWIG is no longer giving out authorization numbers or evern making promises that people will be reimbursed. However when the issuing dealer of the service contract decided to start selling Smart Choice contracts they also had to sign a dealer agreement which makes them the obligor to the contracts financial abilities should something happen to NWIG. Check with your issuing dealer (assuming you havent) hopefully they can do something to help you out. This was strictly my belifs and opinions and not those of NWIG
Jake
Indianapolis,#6Consumer Comment
Wed, August 06, 2003
Unfortunately, in this present economic situation, many companies are going bankrupt. Companies are not legally obligated to provide services after they are no longer in business, just like individuals who declare bankruptcy are not obligated to pay their creditors. The company is not required by law to advise you of their financial situation, although if the company is publically owned you can easily access that information yourself. The only way this company would be guilty of the "rip-off" you accuse them of is if they were bankrupt at the time they aquired you as a customer. I never cease to be amazed at how many people accuse companies of "ripping them off" when the consumer has no clue as to the legalities of their accusations. I sympathize with your need for healthcare, and from what you say it sounds like this company had every intention of always providing you with this. There is no way to recover your investment from a bankrupt company, and you are hurting noone by saying as much as you like about a company that is NO LONGER IN BUSINESS!!! Get a clue.