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USfidelis files for bankruptcy

4:03 PM, Mar 1, 2010   |    comments
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KSDK -- USfidelis, Inc. announced today that it filed for  Chapter 11 bankruptcy protection.

USfidelis was at one time the nation's largest marketer of vehicle service contracts, and suspended all sales and marketing activity in December 2009. US Fidelis once employed more than 1,000 workers.  It now employs only 109.

Regulators and consumer watchdog groups have accused USfidelis of deceptive marketing practices.  The company is also the target of several class-action lawsuits and is under investigation in at least 40 states.

USfidelis said it will continue to assist customers with vehicle service contracts. The company also announced that it will have a Chief Restructuring Officer, Scott Eisenberg of Amherst Partners, LLC, to lead the company during its efforts to reorganize in Chapter 11.

Customers with questions can call a USfidelis representative at 1-800-649-1856

 

KSDK

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