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Report: #454241

Complaint Review: New York Life - New York, New York Nationwide

  • Submitted:
  • Updated:
  • Reported By: Chino Hills California
  • Author Confirmed What's this?
  • Why?
  • New York Life newyorklife.com Nationwide U.S.A.

New York Life Beware - New York Life will illegally hold your retirement funds and refuse to release them !!!!! New York New York

*Consumer Suggestion: If he has proof

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Beware. I represent a client who was using New York Life for his retirement funds. They REFUSED to release his retirements funds to him. He has been making calls, sending faxes, sending certified letters, and even overnighting FedEx packages requesting they release his money. Legally, they must release his funds within 24 hours of a written request. They were caught in multiple lies on the phone, said they never received letters (were sent certified with signatures).

I would highly recommend not using New York Life.

Meanwhile, during this whole time, my client lost thousands and thousands of dollars in his retirement account because they would not release the funds.

Jacob
Chino Hills, California
U.S.A.

This report was posted on Ripoff Report on 05/21/2009 07:18 PM and is a permanent record located here: https://www.ripoffreport.com/reports/new-york-life/nationwide/new-york-life-beware-new-york-life-will-illegally-hold-your-retirement-funds-and-refuse-454241. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

If he has proof

AUTHOR: Flynrider - (U.S.A.)

POSTED: Thursday, May 21, 2009

That they accepted delivery of his requests, I'd say it's time to get the California Insurance Commsioner or the SEC involved. If he truly has a loss because of their refusal to act in a timely manner, they may have to make up that loss.

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