Warranty Gold defaults on over 65,000 contracts Austin Texas

www.WarrantyGoldSux.com

I, along with approximately 65,000 other people(verified from WG themselves!)in Austin - WarrantyGold.

I placed a cash downpayment of $700 and opted for the 10 month installment plan to finish paying the total amount of $2,403.00.

**** WarrantyGold continued to debit my account until my contractual obligation was completed in August 2003 even though their partner who they claim insures me went bankrupt on 06/06/2003 (unethical). ****

I didn't even find out about the bankruptcy and the REFUSAL to honor my contract until 10/31/2003 - when I called to notify WarrantyGold I was going to take my car in for covered repairs.

I'm lucky I called or it would have been my mechanic informing me that my contract had been nullified. THOUSANDS of people found out the hard way - their mechanic said WG is not paying any claims.

They claim they can do nothing to help me(and the 65,000+ others). We have to 'wait and see' what happens.

Meanwhile, WarrantyGold is still in business selling extended auto warranty contracts with a different insurer. According to Webassured.com, WarrantyGold has about 10,000,000 in assets.

This company has received so many complaints, the Better Business Bureau ASKED THEM TO RESIGN because they would not resolve their complaints. They have cheated too many people to go on unpunished. They took our money even AFTER they knew the insurer claimed bankruptcy.

And you people giving rebuttals need to get a clue.
1) I feel bad for the 60 people laid off, I really do (because I have a 6 month old daughter and a wife and a house just like you) - BUT we're 65THOUSAND people being taken.
2) They might not technically be doing anything illegal, But by not informing their customers who were STILL paying on their contracts that their CONTRACTS were worthless is highly UNETHICAL.
3)WG NEVER notified a majority (if any) of the contract holders that the contracts were worthless. People had to find out the hard way - AFTER having repair bills in the thousands of dollars(unethical).
4) They never mentioned NWIG was the insurance company OR that they were incorporated in the Caymans. I found out NWIG was the administrator only AFTER I paid the downpayment and received the actual CONTRACT. This information was not posted on their website or the fact that NWIG is a Risk Retention Group. If you check WG's website, they bad-mouth RRG's now but had absolutley NO problem with them for a long time.
5) WG was made aware by NIWG in 2002 that NWIG might not have enough money to pay out claims yet they continued to sell CONTRACTS.
6) The phone number on WG's website is to WarrantyGold, the money was withdrawn from my bank account by Warranty Gold, The people I call to ask questions or report a problem answer teh phone "Warranty Gold" - As far as I'm concerned I have a contract WITH Warranty Gold.
www.WarrantyGoldSux.com

robert
San Antonio, Texas
U.S.A.