so let me guess what happened. they typically don't come up with the funds to pay out for rebate claims but receive them from retailers they work for. from the article, it's about $50mm. however, in an ill fated and greedy attempt to profit from holding these funds, they invested them in CDS or mortgage backed securities instead of something safe like an interest bearing account. or maybe even in the stock market or mutual funds. so depending on what they invested in, the value of funds pretty much evaporated in the course of a year or the last few weeks. now they're worth $1mm to $10mm.

it's that or someone ran away with the money...

I received this from PriceGrabber.com

Dear XXX,

PriceGrabber.com wants to thank you for being a loyal customer, and also say thank you for participating in our review rebate program.

We wanted to give you an update on a recent change in our rebate process that has occurred over the past few days. We have been informed that the vendor who supplies the rebates to PriceGrabber customers who have filled out a review on our site is unfortunately no longer able to process rebate requests from our customers. Although PriceGrabber has prepaid this vendor a substantial amount to more than adequately fund our review rebate program, they have informed us that they do not intend to honor checks they have previously issued to our customers.

If you are currently in possession of a rebate check issued on behalf of PriceGrabber.com, or if you receive a check of this kind within the next week, PLEASE DO NOT CASH IT. The vendor is placing stop-payments on these checks to prevent you from being penalized, but we still hope to prevent you this additional inconvenience. PriceGrabber is in the process of reissuing your rebate check directly from our own accounts. A new check to be mailed to you directly from PriceGrabber headquarters in Los Angeles, CA. No additional action will be required from you to initiate this process.

We apologize for any inconvenience this may cause you, and we appreciate you taking the time out of your busy schedule to participate in both of our programs. Your feedback is very valuable to us, and we want to ensure you receive your rebate as promised. Rest assured that PriceGrabber is also taking all appropriate actions to ensure this type of problem does not occur again.

If you have any questions or concerns, please feel free to email us at rebates@pricegrabber.com

Again, thank you for your time and understanding.

Best regards,


Darren Davis
VP, Product Marketing
PriceGrabber.com

I fired off an e-mail to address the issues not discussed in the correspondence from pricegrabber.com.

I understand that previously issued checks are being handled as described below. What about the previously submitted rebates that haven't shown up on the rebatestatus.com website yet or the ones that have yet to be submitted? This correspondence does not address these issues.

Please let me know how these issues will be handled.

PriceGrabber.com wants to thank you for being a loyal customer, and also say thank you for participating in our review rebate program. We wanted to give you an update on a recent change in our rebate process that has occurred over the past few days. We have been informed that the vendor who supplies the rebates to PriceGrabber customers who have filled out a review on our site is unfortunately no longer able to process rebate requests from our customers. Although PriceGrabber has prepaid this vendor a substantial amount to more than adequately fund our review rebate program, they have informed us that they do not intend to honor checks they have previously issued to our customers. If you are currently in possession of a rebate check issued on behalf of PriceGrabber.com, or if you receive a check of this kind within the next week, PLEASE DO NOT CASH IT. The vendor is placing stop-payments on these checks to prevent you from being penalized, but we still hope to prevent you this additional inconvenience. PriceGrabber is in the process of reissuing your rebate check directly from our own accounts. A new check to be mailed to you directly from PriceGrabber headquarters in Los Angeles, CA. No additional action will be required from you to initiate this process. We apologize for any inconvenience this may cause you, and we appreciate you taking the time out of your busy schedule to participate in both of our programs. Your feedback is very valuable to us, and we want to ensure you receive your rebate as promised. Rest assured that PriceGrabber is also taking all appropriate actions to ensure this type of problem does not occur again. If you have any questions or concerns, please feel free to email us at rebates@pricegrabber.com Again, thank you for your time and understanding. Best regards, Darren Davis VP, Product Marketing PriceGrabber.com

wth I've just received the 30 rebate from Antec...darn it

This should be stickied in Hot Deals at least temporarly. I was getting ready to deposit a 5$ pricegrabber rebate and almost did, but saw the post in Hot Deals. Would have cost me 30 bucks!

When I posted at 5:00 pm above (with the link to the Bankruptcy notice) I PM'd the mods. They moved the thread from Rebate Tracking (where it was when I responded) into Deal Discussion to assist given the gravity of the situation. They said that all the mods that could approve it to go to Hot Deals were not around this weekend, so it may stay here for a couple days.

The only thing you can do is update the Quick Summary on any deal involving CPG to have the important info to help others for now.

mistycoupon said:psuJC said:This should be stickied in Hot Deals at least temporarly. I was getting ready to deposit a 5$ pricegrabber rebate and almost did, but saw the post in Hot Deals. Would have cost me 30 bucks!

It was, I had it there in a post.

Buy FW deleted it.
For up to date info look to SD. You won't miss anything and more informative.
I am posting all my deals over there from now on.
This thread has minimal views where SD has 50,000 +. FW has a problem.
The business model has a problem when viewers cannot see important subjects.

Wow, talk about just making it under the gun. I cashed a Logitech rebate about a week and a half ago.

This is an official email from TRENDnet.

Please note that a mail-in-rebate check that was recently mailed to you by a 3rd party company, on behalf of TRENDnet, may BOUNCE if you try to cash this check. This issue came to our attention today and we are taking immediate action to ensure that you receive your mail-in-rebate refund.

Why will your mail-in-rebate check bounce?

Please note that a 3rd party rebate processing company (legally we cannot disclose the company name at this point) was contracted to issue you your mail-in-rebate check. This 3rd party company is experiencing financial difficulties and the funds provided to them, by TRENDnet, are no longer available. We apologize for any inconvenience, delay or confusion this may cause. We are doing everything in our power to rectify the situation immediately.

TRENDnet and our valued customers are victims of this unfortunate occurrence. We are taking immediate corrective actions to change our mail-in-rebate provider to ensure that this never happens again. We are committed to ensure that you receive your refund in a timely manner and that you will have full confidence in TRENDnet running into the future.

IF YOU HAVE NOT CASHED YOUR CHECK:

How to get your mail-in-rebate:

Don't cash the mail-in-rebate check you have received (it will bounce)
If you have not yet received the check, remember not to cash it once you do get it in the mail
Make a photocopy of the check for your records
Mail the original check to TRENDnet headquarters along with a printout of this email
Mail the check to: (for your reference: our headquarter address can be confirmed on our website at www.trendnet.com)

TRENDnet
Mail-In-Rebate Check Rectification
20675 Manhattan Place
Torrance, CA 90501 USA

TRENDnet will immediately mail back to you a new check that you can cash at any time
IF YOU HAVE CASHED YOUR CHECK:

How to get your mail-in-rebate:

Don't worry, TRENDnet will take full responsibility for refunding your rebate check amount as well as any fees charged to you by your bank
Your check may not bounce
Why: The 3rd party rebate processing company communicated to TRENDnet that the funds that we had provided them are no longer available. However, there is a significant chance that your check will still clear if it was already deposited. TRENDnet is taking a proactive approach in order to ensure that you will not be affected by this situation.

If the check does bounce, your bank will notify you. They will send the bounced check back to you along with a statement of additional charges that they may have levied.
Make a copy of all documents for your records
Send the original bounced check along with the bank statement outlining additional bank charges to TRENDnet headquarters:
Mail the check to: (for your reference: our headquarter address can be confirmed on our website at www.trendnet.com)

TRENDnet
Mail-In-Rebate Check Rectification
20675 Manhattan Place
Torrance, CA 90501 USA

TRENDnet will immediately mail back to you a new check for the rebate amount and any additional charges
Most likely, your deposited check will clear without incident. We are taking this action to ensure that everyone is aware of the situation and to ensure that you receive your rebate check and a refund for any other applicable charges
Frequently Ask Questions (FAQs)

Q. What if I have already received the check deposited it and received the funds?
A. If your bank has already cashed the check and you have received the funds in your account there is no need to worry, your check has been cashed accordingly.

Q. What if I cashed the check this week and have not heard from my bank?
A. If you cashed the check and it has not cashed yet there may or may not be a problem. Please do not panic. Wait until your bank has advised you if it has cleared or not. If by chance it does not clear and it does bounce, your financial institute will mail the check back to you along with a statement from your bank notifying you about the insufficient funds. Upon receiving both these documents follow these instructions.

Make a copy of the letter as well as the original check.
Mail the letter and the original check to:
TRENDNET
Attn: Mail-In-Rebate Rectification
20675 Manhattan Place
Torrance CA, 90501
You will receive full reimbursement of those bank fees along with the rebate check issued by TRENDnet.

Q. What if I've received the check but haven't cashed it, is my check still valid?
A. No, your check is not valid. If you have not cashed the check please:

Make a copy of the original check.
Mail the check to:
TRENDNET
Attn: Mail-In-Rebate Rectification
20675 Manhattan Place
Torrance CA, 90501

Upon receiving your check it will take 2-4 weeks to process and TRENDnet will issue you a check directly.

Q. What if I have already received the check deposited it and received the funds?
A. If your bank has already cashed the check and you have received the funds in your account there is no need to worry, your check has been cashed accordingly.

Q. What if I cashed the check this week and have not heard from my bank?
A. If you cashed the check and it has not cashed yet there may or may not be a problem. Please do not panic. Wait until your bank has advised you if it has cleared or not. If by chance it does not clear and it does bounce, your financial institute will mail the check back to you along with a statement from your bank notifying you about the insufficient funds. Upon receiving both these documents follow these instructions.

Make a copy of the letter as well as the original check.
Mail the letter and the original check to:
TRENDNET
Attn: Mail-In-Rebate Rectification
20675 Manhattan Place
Torrance CA, 90501

You will receive full reimbursement of any bank fees along with the rebate check issued by TRENDnet.

Q. What if I've received the check but haven't cashed it, is my check still valid?
A. No, your check is not valid. If you have not cashed the check please:

Make a copy of the original check.
Mail the original check to:
TRENDNET
Attn: Mail-In-Rebate Rectification
20675 Manhattan Place
Torrance CA, 90501

Upon receiving your check it will take 2-4 weeks to process and TRENDnet will issue you a check directly.

Q. What if I have not received my check yet?
A. If you haven't received a check yet and receive one from the rebate company and not directly from TRENDnet please:

Make a copy of the original check.
Mail the original check to:
TRENDNET
Attn: Mail-In-Rebate Rectification
20675 Manhattan Place
Torrance CA, 90501

Upon receiving your check it will take 2-4 weeks to process and TRENDnet will issue you a check directly. If you don't receive one within another 3-4 weeks please contact TRENDnet.

Q. Can TRENDnet send me a rebate check before I send mine in?
A. We cannot send you a rebate check without receiving the original check until we receive the original. TRENDnet has no way of knowing if you have already cashed it or not without the evidence in our possession.

Q. What if my bank doesn't send me back the original check?
A. If you bank doesn't send back the original please send a copy of bank document indicating there was insufficient fund for the rebate check. We will also need a copy of the rebate check that you made before depositing into your bank account. If you did not make a copy of the original rebate check, you must contact your financial institution to provide one (copy or original) to you. Please send both documents to:

TRENDNET
Attn: Mail-In-Rebate Rectification
20675 Manhattan Place
Torrance CA, 90501

Q. What if I have moved and I still haven't received my check?
A. If you have recently moved and have not received your check please advise your local post office of the move if you have not done so already. If you have please allow delivery of the check and make a photo copy for yourself and send back the original to TRENDnet.

Additional Questions:

Please email rebatequestion@trendnet.com or visit www.trendnet.com/rebatequestion if you have any questions or concerns about the process or your mail-in-rebate check.

Rest assured that we are doing everything in our power to correct this unfortunate occurrence immediately.

We apologize again for any inconvenience.

Sincerely,
TRENDnet

I don't think there's a need for concern here if your rebates are with reputable retailers and manufacturers. They will make good on these checks and the fees associated with them.

Having said that, I don't have any outstanding right now, but I feel your pain.