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Old 03-25-2012, 09:30 AM   #1
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Signet Financial Group Bankrupt

I'm new to this forum and was unable to find info in the search function of this forum.

We paid $1799 for an extended warranty (Signet Financial Group) for our travel trailer when we purchased the travel trailer (new) from Wana RV in Indiana. We now found that Signet Financial Group is now bankrupt and the dealer said that they are not responsible for another company going bankrupt. We are now out of the $1799 and have no extended warranty coverage.

Any advice?

Thanks.
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Old 03-25-2012, 09:52 AM   #2
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If there were any assets left, they should be distributed back to the customers. But, you might have to file a claim to get anything and providing anything is left. That's about all I can tell you, but it doesn't look good from here
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Old 03-25-2012, 10:07 AM   #3
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You can research the bankruptcy and file a claim with the trustee, but it is unlikely that unsecured creditors will get any refunds. A quick Google search shows problems with refunds and payments, and possibly a bankruptcy filing, at least as old as April 2011. Basically, it sucks, but when you are holding a contract and the other party goes belly up you have little, if any, recourse except to move on and self insure or purchase another extended warranty.
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Old 03-25-2012, 11:20 AM   #4
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Look at your service contract for "underwriters"
If the contract has an underwriter they are responsible for all new claims. Call them and verify if possible or call the claims phone number on the contract and see who answers.
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Old 03-25-2012, 12:17 PM   #5
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Quote:
Originally Posted by Wanabee FTer View Post
Look at your service contract for "underwriters"
If the contract has an underwriter they are responsible for all new claims. Call them and verify if possible or call the claims phone number on the contract and see who answers.
After I read your post, I looked at the document, but couldn't find an underwriter. I did, however, find the exclusion of liability by the dealer.

Thanks - and thanks to the others for their responses.

Never again with extended warranties. We've learned our lesson.
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Old 03-25-2012, 06:52 PM   #6
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I wouldn't necessarily write of extended warranties due to a bad experience. Our extended warranty on our F350 has paid of in spades. I think it is a lesson to check out the perspective insurer as best you can. Its old axim "lifes a risk".
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