Warranty Gold Class Action Lawsuit

Warranty Gold Class Action Lawsuit... Would anyone be interested in starting a class action lawsuit against warranty gold for not backing their contract? There is a group that
sent me an email that is looking to start one based out of texas. Lawyers will not be a problem from what I understand, and there seems to be a lot of support for it.
If you are willing to support it, drop me an email. This may turn out to be to our benefit..
snipped-for-privacy@earthlink.net
dl snipped-for-privacy@yahoo.com
Alex - AKA - Mighty ZR2 2000 Chevy ZR2 4x4
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Did you read my post? It's not THEIR fault they don't have access to the account to pay claims. Yeah, you're upset. This is a circumstance beyond their control. The way I understand it is that they are an agent for the insurance underwriters. When you buy your policy from Warranty Gold they give the money to the company that is their current insurance company, or underwriter. They then put it into an account to pay out of if you make a claim. Those accounts are locked because the underwriter is in bankruptcy. Maybe the lawsuit should be against NWIG, the company that filed for bankruptcy. Warranty Gold is doing as much as they can, as I understand it, to rectify the problems. However, they can't pay claims on your policy, that is with NWIG, out of the accounts with their new insurer or one or both of those companies (WG and the new insurer) will surely go bankrupt. This is because, as I said before, your money is with NWIG, not the new insurer, so they only have money available to pay claims on policies bought after July 9, 2003.
Best thing you can do is to have the shop submit the calim, get it denied, then pay out of pocket. Then, once things are straightened out, you can get the claim re-processed and the check mailed to you. As the assets of the company get distributed after the court proceedings, as they surely will, Warranty Gold will SURELY get all or part of the money back that was in those accounts, it'll just take some time...
On 4 Sep 2003 04:41:15 -0700, snipped-for-privacy@yahoo.com (MightyZR2) wrote:

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I plan to wait it out for a while. Once the lawsuits start, the lawyers start taking part of the money. There will be less to pay out. Being an optimist, I hope for the best.
I also disagree with many of your points. My comments are below.
Doc
On Thu, 04 Sep 2003 14:32:32 GMT, Mike Levy

I disagree. It very well may be their fault. I contracted with WG. WG contracted the administrator. I have every reason to expect WG to due their due diligence in choosing an administrator. I also have reason to expect them to perform regular checks on the financial state of their chosen administrator. If it becomes apparent that our claims will not be paid, it may be a good idea to consult with a lawyer. It is very possible that this issue (is WG responsible) would have to be resolved in a court of law.
As you note, I am sure that WG is trying to resolve the issue. If this comes down to legal action, the question will be what did WG do to prevent this from happening?
I expect that if it comes down to lawsuits, that both NWIG and WG will be sued.

This is what I have done. I am now owed a little over $1000 at this point in time. I am very worried if only part of the money is recovered. It is supposed to be in a trust account. Why wouldn't it be recoverable? If it went to other purposes, then fraud may be involved. This would be another reason to consult a lawyer when the facts unflold.

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