lawsuit
Complaint
Damon
Country: United States
Hi I have the same experience with everyone here so don't need to write my personal experience. I was just wondering if anyone knows how to go about to get a refund back from the portion that I've already paid to Consumer Direct Warranty services and / or if any outstanding class action lawsuits.
Please email at DChu1202@aol.com
Please email at DChu1202@aol.com
Comments
sanscottlisa@aol.com
Clue me in on the lawsuit... Thanks, lulubelle612@yahoo.com
I'm ALL IN
BruinmommaBear@aol.com
MEPCO is making money financing these contracts and if they are not held liable when the companies they represented fail, they should, at a minimum, have to refund the unused premiums. If my accounting memory hasn't failed me, according to EBITA accounting, (Income equal to Earnings Before Interest, Tax, Depreciation and Amortization) upfront monies collected have to be allocated as future income for the life of the contract. So when there was no company, there was no contract and the earnings were not theirs to keep.
That said, however, I can see the problem with class action suits against the warranty company and MEPCO, as MEPCO has represented so many different companies the victim pool gets diluted. MEPCO made money on all these contracts, they are the common denominator! Part of being in business is assuming the risk, they took the risk, they made the money and they should be held responsible. If they did not understand the risk, shame on them. Maybe the class action angle is to go after MEPCO when the companies they represent are in default of the contracts MEPCO financed. If nothing else it will force MEPCO to be a little more choosy on who they represent.