Here's what could happen to your Kenmore warranty with Sears filing for bankruptcy

[Yo_Mama_Been_Loggin]

Get ready for holidays sales at Sears, which will be followed by the permanent closing of 142 stores.

But what happens to anyone with a Sears Kenmore appliance and a possibly defunct warranty?

"We are honoring our warranties, protection agreements and guarantees as normal," the company said in a statement. If you need help with a replacement part for your appliance, check out the Sears PartsDirect Site.

What can you do if a company goes under when you have a service agreement?

That's a common question, according to the Federal Trade Commission, and the short answer is, not much. "Before you sign a contract, think about the company's financial situation and consider whether the business is reputable," the FTC said under the section, "Who is responsible for the contract."

Generally, consumers haven't had to worry about their warranties being dissolved in the wake of a company going out of business, according to Eric Arnum, editor of Warranty Week, which reports on the warranty industry.

When Circuit City and CompUSA filed for bankruptcy, Arnum says, outside insurance companies stepped in, and all extended warranties were honored. "That's been the case for decades in the U.S.," Arnum said. The reason: Many states mandate that a company work with outside insurance companies or demonstrate assets of a certain amount to continue coverage for consumers.

So you probably don't have to worry about your warranty, but you should definitely use that Sears gift card . And while we're on the subject, you might want to think twice about getting extended warranties in the future.

https://www.msn.com/en-us/money/personalfinance/heres-what-could-happen-to-your-kenmore-warranty-with-sears-filing-for-bankruptcy/ar-BBOG5yd?li=BBnbfcL

[kimbutgar]

1. I brought a microwave yesterday at sears and offered a warranty

I declined thinking it would not be honored. That’ said I wanted to buy one more kenmore product.
Sears was part of my life growing up. My late parents brought refrigerators, stoves and washing machines and dryers when I was growing they lasted a long time and were not expensive to repair.

[Dr Vegas]

2. Many Many years ago

I went to Crazy Eddie with my brother., who wanted to get a DVD player. He knew the female salesperson and he flirted with her a bit and she suggested that he add on an extended service warranty to his purchase. I looked right at her and ask "What happens if you guys go out of business? Who will honor this warranty?" She look at us and said "I don't know, they ask all the salespeople to get extended warranties" I suggested that she go ask the Store Manager. She came back and said the Store Manager didn't give her an answer. My brother bought the DVD player without the extended warranty and 6 months later they went out of business