WARNING: Recent CenDyne rebate checks have been bouncing!

[VEFF]

Recent CenDyne rebate checks have been bouncing according to a number of people!
In one instance, the rebate house said it cleared their bank, and is investigating why it bounced.

I know there is a topic on CenDyne going bust, but thought
adding a new topic would make this more visible in the forum and might save a few people here on returned/bounced check fees, especially if they have multiple CenDyne checks to deposit or cash.

[aviationwiz]

They have thier checks bouncing? The Nerve. Rebate money which they have promised consumers should be one of thier top priorities.

[VEFF]

Another person said he cashed/deposited his CenDyne check a week ago,
and that it doesn't appear to have bounced.
I guess as time goes on, we'll find out more.

It is like QPS all over again!
I felt this might happen for months, to be honest.
That is why I passed on a number of CenDyne hot deals.
However,I couldn't resist a CenDyne 4X DVD burner deal back in May, and decided to risk $30, knowing it might not be paid.

I also knew that OM would probably stand behind their advertising (as BestBuy, CompUSA and Circuit City have done in the past in the case of rebate and other issues) and make right by issuing gift cards or checks to their customers.

[liteonrules]

Back on 7/20/03, i bought a cendyne burner that was supposed to be free after a $50.00REBATE directly from officemax and a 20.00REBATE directly from CENDYNE. so i called because i was worried that i was not going to get my rebate. he said that they are still getting shipments from CENDYNE and they know nothing about CENDYNE closing or being shut down but anyway he said i will get my rebates and not to worry.

[dodecahedron]

They have thier checks bouncing? The Nerve. Rebate money which they have promised consumers should be one of thier top priorities.

when a company goes out of business, it doens't really matter to them...your'e just another creditor (if that's the right word...fogive my English) among many others.
maybe commerce laws set it up so that customers are given priority over other creditors such as suppliers etc., but from the point of view of the company that's going under, it doesn't really matter i guess.

[Boone]

when a company goes out of business, it doens't really matter to them...your'e just another creditor (if that's the right word...fogive my English) among many others.
maybe commerce laws set it up so that customers are given priority over other creditors such as suppliers etc., but from the point of view of the company that's going under, it doesn't really matter i guess.

Nope, creditors are ranked according to how much they're owed... the big dogs always eat before the little fish. Rebates would be LAST on the list when they dole out cash, just before shareholders.

[dodecahedron]

well, my bad.
i'd thought, since in the US there are many laws/regulartions in favor of "the customer" (that aren't found in other parts of the world) that maybe there would be something like this.

too bad that's not the case.

(thinking of a CDRLabs member whose going to be out of a job over the Cendyne issue) i wonder if there are laws that put the workers' benefits at a higher priority, such as severence compensation or such, before other creditors such as suppliers, shareholders etc.

[Ian]

well, my bad.
i'd thought, since in the US there are many laws/regulartions in favor of "the customer" (that aren't found in other parts of the world) that maybe there would be something like this.

too bad that's not the case.

The US is run by big business and looks out for big business. Consumers? Employees? Pfft.. It's all about the mighty dollar.

[Inertia]

Nope, creditors are ranked according to how much they're owed... the big dogs always eat before the little fish. Rebates would be LAST on the list when they dole out cash, just before shareholders.

I disagree with that statement. The first claims are for secured loans up to the value of the collateral. This doesn't depend on how much is owed, only that it is secured by collateral.

After secured claims, unsecured claims are paid in the following Priorities.

The remaining general unsecured claims are paid in proportion to the size of the claim relative to the total of claims in the class of unsecured claims.

Shareholders have no claims, but money owed for rebates would be a general unsecured claim.

[Banshee]

well, my bad.
i'd thought, since in the US there are many laws/regulartions in favor of "the customer" (that aren't found in other parts of the world) that maybe there would be something like this.

too bad that's not the case.

The US is run by big business and looks out for big business. Consumers? Employees? Pfft.. It's all about the mighty dollar.

Actually, when they laid off most everyone, the first part that gets settled is outstanding pay.

Since I was retained to help close, my pay rate was set, and is garunteed by the Receiver, in charge of the liquidation.

[VEFF]

well, my bad.
i'd thought, since in the US there are many laws/regulartions in favor of "the customer" (that aren't found in other parts of the world) that maybe there would be something like this.

too bad that's not the case.

The US is run by big business and looks out for big business. Consumers? Employees? Pfft.. It's all about the mighty dollar.

Actually, when they laid off most everyone, the first part that gets settled is outstanding pay.

Since I was retained to help close, my pay rate was set, and is garunteed by the Receiver, in charge of the liquidation.

Banshee,

I am glad that outstanding pay obligations come first.
I am sure you are too...
That makes sense.

I am going to contact OfficeMax (by e-mail or phone) to ask if they can do anything about my long outstanding (approved before mid June) rebate, since CenDyne won't be providing funding.

Funding has apparently been secured for issued CenDyne rebate checks, so those who received checks and didn't try to depost or cash them *might* be OK now, at least for Staples purchases.
Don't take my word for it, I am just repeating what Staples or Parago told one customer.
Note: mine is for an OfficeMax purchase, so the funding for those may be separate for the Staples purchases.

[Banshee]

Well, more of us got the axe today, this time around I didn't survive, so Off I goto look for work, and leech off benefits until I do so

[VEFF]

Sorry to hear that Banshee.
Good luck!!!

[dodecahedron]

yeah, good luck with your job hunting!

[VEFF]

My CenDyne rebate finally changed to "Fulfilling Reward", meaning the check has been cut.
It seems they cut a whole bunch of checks at once, because people who bought products late July, had their status change to "Fulfilling Reward" as well, even though my purchase was two months before theirs.

I am keeping my fingers crossed that it won't bounce!

[David]

My cendyne rebate was just cut also heres hoping it dosn't bounce.

[VEFF]

I read that the funds may NOT be in the account for checks issued after Aug xx (forgot the date), so you might want to proceed with caution if you have one of the September checks.

I have no idea why on earth OfficeMax and the rebate center aren't coordinating it better...

[treemana]

My Cendyne rebate check just bounced. I'll have to see if Fry's will honor it like other retailers have.

It's interesting, I remember thinking, "After the $40 rebate, my $200 drive will only cost me $160." Wrong! It ended up costing me $205 after rebate because my bank charged me a $5 fee for the bounced check!

[VEFF]

Fry's might not be funding the rebates.

BestBuy, Staples and OfficeMax all stepped up to the plate and funded the rebates when CenDyne went bankrupt due to mismanagement, among other reasons.

[treemana]

Well, it took them about six weeks, but Fry's refunded me for the $40 Cendyne rebate check that bounced. Actually, they sent me a check for $43, with no explanation about the extra $3.

If anyone else is in this boat, Fry's will honor bounced rebate checks, but they have to send the information to their headquarters. The check is sent from their headquarters. They said the process would take about 4 weeks. Actually, it took a little longer. But still, they honored the check!

[Banshee]

Still looking for work, unfortunately.