Olevia TV-Maker Files For Bankruptcy. Goodbye, Warranties.

If you have an Olevia TV, your warranty is probably going to be worthless now. Parent company Syntax-Brillian has filed for Chapter 11 bankruptcy protection. Olevia is going to be spun off into its own limited liability company. An Engadget commenter suggests that after the bankruptcy proceedings, Syntax-Brillian will have no assets, only liabilities. In accounting terms, outstanding warranties are a liability. It's just an educated guess, but don't plan on counting on Olevia to fulfill their warranties (not like they were so great at service to begin with). Instead, if you bought an Olevia on a credit card, you may have extended warranty protection through your credit card company, as Meghann describes in a recent post (see number 6).

1-Syntax-Brillian files for Chapter 11 bankruptcy [Reuters]

Consumer Bankruptcies Up Nearly 50% From A Year Ago

4 Hints For Getting Your Ticket Money Back When The Airline Goes Bankrupt

We got passed a communique from the Fiserv debit-card processing company to its clients that offers some insights for consumers concerned about getting their money back if they have bought tickets on an airline that has gone bankrupt (as several have recently). Here's the takeaways:

• Chargebacks can be filed on all tickets, whether they were purchased directly from the airline or from a third-party
• You don't have to take a replacement flight offered by another carrier if you don't want to
• You have 120 days from the date of expected travel to file a chargeback
• Depending on merchant policy, travel insurance may be transferable or redeemable

(Photo: Getty)

What To Do If You Hold Skybus Tickets

Skybus has just announced that it will stop flying starting tomorrow, Saturday April 5th. "Skybus struggled to overcome the combination of rising jet fuel costs and a slowing economic environment. These two issues proved to be insurmountable for a new carrier...Our financial condition is such that our Board of Directors felt it had no choice but to cease operations," said the company in the tombstone posted on its website. The dream of ultra-low-budget air travel was too beautiful to let live...

Getting Money Back From Bankrupt Airlines: Credit Card May Have Trip Insurance Built-In

Here's yet another way to get your money back if you find the airline you've booked tickets with should suddenly cease to operate: trip insurance may be one of the default benefits on your credit card. If you booked with a credit card, call up the company and ask. For instance, Citi PremierPass Elite MasterCard comes with Trip Cancellation/Trip Interruption Insurance for free. Reader Jhayme says they are refunding ATA Airlines passengers who purchased their ticket in full on the card up to $1500. The number to call to submit a claim is 1-800-950-5118, and there is a claim form that should be submitted American Express has a similar program called Travel Delay Protection, that will reimburse passengers if they cannot be rebooked on a new flight within a certain time period. I believe this costs $9.95 per trip. With two airlines going bankrupt, it may be a good idea for people to look into these programs." Those credit cards may be evil, but for big ticket items, their buyer protections can come in handy sometimes.

PREVIOUSLY: What Do You Do If You Have Tickets On A Bankrupt Airline?
(Photo: $arah Murray)

ATA airlines abruptly ceased to exist this morning, leaving travelers to scramble for refunds and alternate booking arrangements. An ATA insider took time out from looking for a new job to give The Consumerist the inside scoop:

ATAinsider: The airline lost an important contract [with Federal Express] that involved the AMC [Air Mobility Command] and became financially insolvent. As of this morning, they filed and we have essentially closed. With the prices of fuel, all the eggs are in the charter basket right now. So since we lost our bread and butter contract, we couldn't afford to do scheduled service.
benpopken: Did you find about it before going to work today?
ATAinsider: I did not, but it was on the news, apparently the press release was at 0500.
benpopken: What was the mood like once people started finding out?
ATAinsider: Very sad. It seemed somewhat inevitable, but we all had hopes, you know? People had been there for 25 or more years and the worst part is, their loyalty paid off for nothing in the end. Seems to be the state of affairs anymore.
benpopken: They won't be handing out any gold watches, that's for sure.
ATAinsider: Nope, and the best anyone can hope for is unemployment.

For passengers seeking information on ATA refunds or rebooking, check out this post.

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