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Car Forum / Driving, Maintenance, Tuning / Maintenance and Repair / April 2006

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1SourceAutoWarranty.com Bankrupt. We Need Your Help

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Steve Horrillo - 04 Apr 2006 13:17 GMT
Our extended warranty company 1SourceAutoWarrantee (reinsurer is Primeguard)
went insolvent. We are looking for members for a class action suit and to
discuss ways of trying to recoup our losses. I started a Yahoo group. If you
can help or have been burned, post to 1SourceClassAction@yahoogroups.com. To
join or view previous messages go to
http://groups.yahoo.com/group/1SourceClassAction/

Official info from the State can be found at
http://www.hawaii.gov/dcca/areas/ins/ins_div_actions/primeguard/
Signature

Warmest regards,

Steve

John S. - 04 Apr 2006 13:45 GMT
> Our extended warranty company 1SourceAutoWarrantee (reinsurer is Primeguard)
> went insolvent. We are looking for members for a class action suit and to
[quoted text clipped - 9 lines]
>
> Steve

I wish you and others taken in by the 1 Source group well in your
pursuit of damages.  I would think that the liability of Primeguard
would be limited to them performing on the portion of the warranty
contracts that they purchased or reinsured.

If you can get an attorney to take this on a contingency basis then go
for it.  Otherwise please balance the cost of retaining counsel against
the possible recovery which could very well be only a few cents on the
dollar.
Don - 09 Apr 2006 07:45 GMT
>Our extended warranty company 1SourceAutoWarrantee (reinsurer is Primeguard)
>went insolvent.

Nothing at all unusual about this.  Perhaps the money went up the
noses of the CEOs or they actually paid a few claims -- something they
usually make every effort not to do and an effort at which they are
normally succesful.

>We are looking for members for a class action suit and to
>discuss ways of trying to recoup our losses.

Good luck, you are going to need it.

> I started a Yahoo group.

Since its probably a lost cause collecting from this particular group
of scumbags, you might be best advised to focus your Yahoo group on
warning others not to throw away their money as you did.

Don
www.donsautomotive.com

> If you can help or have been burned, post to 1SourceClassAction@yahoogroups.com. To
>join or view previous messages go to
>http://groups.yahoo.com/group/1SourceClassAction/
>
>Official info from the State can be found at
>http://www.hawaii.gov/dcca/areas/ins/ins_div_actions/primeguard/
 
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