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Guest Message by DevFuse


XM's rebate checks no good

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4 replies to this topic

#1 OFFLINE   Lord Vader

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Posted 14 November 2008 - 04:16 PM

As if this merged company isn't having enough problems, I get this Email today (I bought a new receiver in the summer and am only NOW supposed to be getting the damn rebate check):

Dear Subscriber,

Our records indicate that a rebate check was recently issued to you in connection with your purchase of an XM radio. We contract the processing and issuance of our rebate checks to a rebate fulfillment vendor. On November 11, 2008, we were informed by our vendor that they were under "financial stress" and, as a result, the funds we deposited with them to cover rebates were no longer available.

Since learning of this situation, we have worked to resolve the situation in the best interest of our subscribers. Unfortunately, it now appears that due to our vendor's financial situation, the check they issued to you on our behalf may not be honored.

We will be sending you a replacement rebate check issued directly by SIRIUS XM Radio within the next 10 business days. In the interim, if you have not deposited the initial rebate check, please void it.

We regret the inconvenience this may cause and we appreciate your understanding and patience. We are working to resolve this problem as quickly as possible. If you have any questions, do not hesitate to call us at 1-877-967-4675.


Joe Zarella
Chief Service Officer
Sirius XM Satellite Radio

FAITH: I find the lack of it disturbing.


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#2 OFFLINE   Fontano



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Posted 14 November 2008 - 04:41 PM

While you may be a little ticked about it.

At least you found out now, before getting a fee from your bank, when the check bounced.

#3 OFFLINE   Lord Vader

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Posted 14 November 2008 - 05:07 PM

Oh, it's not like I'm pissed as hell; rather, I'm rather a bit irritated.

FAITH: I find the lack of it disturbing.


#4 OFFLINE   turbovr6



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Posted 14 November 2008 - 05:10 PM

It's not just an XM thing. Many of us are getting shafted on rebates right now....


Quote :
Here is a simple overview of how a rebate with CPG works. Company X puts a rebate on its product, let’s say for $20. Company X expects to pay out 5000 of these rebates to consumers. Company X would then put the $100,000 needed to cover that rebate into CPG’s bank accounts. CPG basically escrows the money for consumers. CPG is trusted with this money in order to make sure the consumer is “safe.”

We have it from good sources currently that CPG owes consumers somewhere in the neighborhood of $9M to $12M worth of rebates. The problem here is that CPG currently only has about $3M in cash to cover that $9M-$12M in rebates owed to the consumer. Where that money has gone to is anyone’s guess and we will leave speculation up the law enforcement authorities and the courts.

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#5 OFFLINE   Fontano



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Posted 14 November 2008 - 05:24 PM

Do most of the rebate houses then make their money, off the intrest on those deposits by the bigger companies?

Hence the 8-12 week timelines for payoffs? (time to get enough intrest of it)

If that is the case, this could be a BIG BIG issue with the way the economy is right now.

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