Boris
Seems to me that you need to cut your losses. By that I mean, treat the
USD1000 as a loss, as well as the warranty. If the insurer is insolvent
(and SC&E too, which sounds like what has happened), then your claim joins
everyone else as an unsecured creditor. On the bright side, the liquidators
maight realize enough tp pay 50c on the dollar - but that might be a *long*
time coming.
The other approach is through the dealer who sold you the (worthless)
warranty, perhaps a talk wth the local Better Business Bureau would help.
These pages have some background:-
http://www.automotivedigest.com/view_art.asp?articlesID=9603
http://www.usedcarnews.com/news/2003/07/07/headlines.html#story8
Piers
PS Stick to used OM equipment please - it's dangerous out there!
-----Original Message-----
From: owner-olympus@xxxxxxxxxxxxxxx [mailto:owner-olympus@xxxxxxxxxxxxxxx]
On Behalf Of Boris Grigorov
Sent: 23 July 2003 12:46
To: olympus@xxxxxxxxxxxxxxx
Subject: [OM] [OT] Need your opinion on this
Sorry for the OT, but I am still learning about this country and am very
clueless.
No, I am not in trouble, but someone else is and it seems that has found
ways to get out of it.
Back in May 2001 I went to a reputable (I mean as reputable the used car
dealerships go.) dealership and bought a car. I was offered a warranty with
it for three years of 36K whichever comes first. It is called Smart Choice
2000 and I had to pay $1000 to have it.
Here is all the legal info:
The administrator/obligor of this extended service agreement is SC&E
Administrative services, Inc. The administrator's obligation to perform
under this agreement is insured by National Warranty Insurance Company and
reinsured by Signet Star Reinsurance Company. If a valid claim is not paid
within 60 days, after you have filed a proof of loss clobbered by this
vehicle service agreement, then you may make a direct claim against National
Warranty Insurance Company. I must also mention that NWIC also must
authorize the repair beforehand.
May 2003, the starter went caput and the car was sent to a VW dealer, but to
my surprise, the dealership refused to release the car at the end of the
day, coz no one paid the bill. Getting on the top of things, I make calls
to NWIC and was told that they are third party and SC&E supply the funds,
but they have not done it within the last couple of days and was told to
call them. I called and got a hold of a woman who after putting me on hold
for about a minute told me that everything is set and I should call back
SC&E to get the money.She did not even get my info.
Needless to say, I had to pay myself.
Up until this week the telephones at the SC&E were busy. Now there is a
message that there is a court hearing on some island which name I do not
remember, but was told that the bad capitalists go there to avoid
prosecution and evade taxes. Please, listen to the message if you get a
chance:1.800.334.8358.
I would like to tell me what you think about the following:
What happens if I do repairs before Aug 1st (when the court hearing is).
They do provide an option for repair facilities to record their work.
Why on this island?
What are the chances that my warranty would be valid after that date?
Feel free to elaborate, I am sure that have not posted all the questions.
Thanks
Boris
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