CompUSA closing: Don't panic! Computer service plans are still valid

Last week, CompUSA announced that it would be selling or closing all remaining stores in the United States. Consumers have been panicking, especially those who bought service plans for their computers. They were afraid they'd be left high and dry.

I am one of those consumers with a computer from CompUSA and I also purchased the TAP (Technology Assurance Plan.)

Rumors were flying about whether or not those plans would still be valid, and they are still valid and will be honored.

The plans are administered through Assurant Group (what CompUSA employees sometimes refer to as "the underwriter"). It does business under different names in different states, but the parent company is Assurant Group.

I also called CompUSA to confirm this, and the customer service representative indicated that indeed, the TAP plans are still valid. If you would like to call them and verify that your plan will still be serviced, call 1-800-266-7872 (hit option 3 and then option 3).

Be prepared to wait on hold... they have a very high volume right now, as you can imagine. The recorded message said I would have a wait longer than 5 minutes. I was actually on hold for 48 minutes. I got cut off, then tried to call back and got a busy signal. I called again, and waited on hold for another 32 minutes before reaching a live person.

They won't be able to tell you much other than the fact that your plan is still valid. You can also confirm with Assurant that it will be servicing all CompUSA warranties and plans by calling them at 1-888-213-2635.

You can also contact CompUSA about TAP plans with an email to this address:

Forensic accountant Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations through her company, Sequence Inc. Forensic Accounting. The Association of Certified Fraud Examiners honored Tracy as the 2007 winner of the prestigious Hubbard Award and her first book, Essentials of Corporate Fraud, will be on bookshelves in March 2008.
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