Effect of GM bankrputcy on GMPP and prepaid service plan

1371 Views 2 Replies 3 Participants Last post by mp11477, Nov 12, 2008

rivieraranch

Discussion Starter · Nov 4, 2008 (Edited)

If I bought a GM Protection Plan and pre-paid service plan for my new vehicle and GM someday decided to file for bankruptcy, would these contracts become worthless or would some other entity take them over?

What about the basic new vehicle warranty?

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mp11477

· #3 · Nov 12, 2008

Re: Effect of Gnm bankrputcy on GMPP and prepaid service plan

MrCritical said:
Excellent question. I too, would like the answer.

My guess is that anyone that bought GM/GMPP's assets would assume the liabilities as well (warranty/service contracts).

Got 3 GMPP contracts in affect right now myself.

IIRC, the GMPP is actually financially backed by GMAC insurance. So, unless GMAC Insurance is rolled into the BK, I THINK anyone with a GMPP will be ok.

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