Vantage Travel Bankruptcy with Michelle Couch Friedman

Easy Prey

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4M ago 53:59

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Imagine booking a vacation only to find out that the company files for bankruptcy a week later. As a consumer, would you know what your rights are? There’s a big difference between travel insurance and travel protection. One can leave you with no way to get your money back.

Today’s guest is Michelle Couch Friedman. Michelle is the founder and CEO of Consumer Rescue. She is an experienced consumer reporter, advocate, mediator, author, and licensed psychotherapist. Michelle has also been a columnist, contributing editor, and former executive director for Elliott Advocacy, a non-profit organization dedicated to consumer advocacy.

Show Notes:

[1:02] - Michelle shares her background and what she does through Consumer Rescue.
[5:00] - The only way to get money back from a bankrupt company is through your credit card company if you paid with one, or if you have travel insurance.
[6:36] - Right before announcing their bankruptcy, Vantage did a “sales blitz” and offered great deals to loyal customers, knowing that they wouldn’t deliver.
[9:49] - Vantage was unique in that it had been a successful business for 40 years and had a loyal customer base.
[12:44] - Looking back at the way Vantage behaved after the pandemic, there were some red flags.
[15:43] - Michelle explains the difference between travel insurance and travel protection.
[17:36] - Travel insurance should be purchased away from the company taking you on the trip.
[19:47] - Make sure you can find a clause somewhere that says you are protected against the insolvency of the tour operator with or without bankruptcy.
[22:10] - If the tour operator is not able to deliver, you could file a credit card dispute. But there are some limitations.
[26:04] - You should always pay with credit cards. Don’t be tempted by discounts offered with bank transfers.
[31:21] - The average age of Vantage Travel clientele was older and scammers took advantage of their vulnerability.
[33:10] - When filing claims and filling out forms, personal information makes its way to scammers on a “victim list.”
[36:09] - Cryptocurrency is a red flag in cases like this as well.
[38:41] - There is some information you can find by contacting the court in the jurisdiction of the bankrupt company.
[41:53] - A company bought Vantage Travel’s customer list and had all of their contact information.
[43:57] - In order to protect yourself, even if you have full trust in the company, do research and find red flags and reports.
[46:26] - Never pay with a bank transfer, even if they offer a discount.
[50:40] - Make sure the travel insurance policy protects against insolvency, not just bankruptcy.
[53:34] - Michelle shares how to reach Consumer Rescue and what services they provide for free.

Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review.

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