Got Burnrd By 1sourceautowarranty.com ?

Our extended warranty company 1SourceAutoWarranty.com (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 . 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/

 

Think about what you're proposing here, Steve.

The company doesn't have enough money to pay all that it owes.

You wish to initiate a *class action* lawsuit to get money.

This lawsuit will subtract even more money from the company's coffers.

Class action lawsuits are huge ordeals requiring a huge amount of billable
legal time.

So, if you proceed with this lawsuit, here's what you get:

You'll take the pennies on the dollar you could already get, dilute that
by the company's legal expenses, and then give 80% of what's left from
that to the lawyers. Why are you putting so much effort into this lawsuit
that could very well get you less than you'd get in the first place?

 

Follow the money, Everyone knows that the only ones that make money on class
action lawsuits are the lawyers. I smell a lawyer, or the agent of a lawyer
trying to make some money. Most of the other options don't make sense.

Jack Cassidy