3rd party warranty in "receivership"

[iop9000]

trying to file a claim thru Ultimate Warranty Corp due to a faulty window regulator, the cust rep said the comp is in a state of receivership and their funds for claims have been depleted, they said i can file a claim, and will be reimbursed but nobody knows when.
What should i do?

[LeMansX5]

Not much. Sit and wait, I guess.

[TowX]

Bummer, but not unheard of. Check your policy for an insured 3rd party. Many states (IL included) require service contract companies (they legally aren't warranties, but extended service policies) to have an insurance carier to back their claims. And since virtually every state regulates these policies as insurance, check with our state's insurance commissioner in Springfield.

Did you purchase online or through a dealer? If through a dealer, you may have recourse that way too. Been a dozen years since I was with GE's warranty division, but a lot of states are "obligor" states which means the dealer that sold you the contract is "obligated" to honor the terms of the warranty they sold you. Can't remember if IL is an obligor state. but if you purchased online, you're out of luck on this point. There is no federal statute to cover this part of the law, only each individual state.