Service Contract Provider WPC Associates Under Investigation

Service contract provider WPC Associates may have disappeared with an alleged two million dollars in assets. The company is under investigation by the PA Attorney General's Office.

WPC ceased operations August 25, 2006 to avoid bankruptcy proceedings. As of December 21, 2006 they had not filed in PA. Their alleged assets are still unaccounted for.

The PA Attorney General is urging anyone left with a worthless service contract to file a complaint. WPC had been selling some service contracts without underwriting them.

They would likely be forced by regulators to pay their creditors and remaining claims first. It is however, unlikely that WPC's creditors and contract holders will receive what they are owed.

Unfortunately, these stories are much too common. An extended auto warranty is a good investment providing you hook up with a stable, legitimate company. Use due diligence when purchasing a service contract.

(Source: Fixed Ops Management Weekly)

Tony Iorio
http://www.insidercarsecrets.com