ATTN: Conquest Vacations filed for bankruptcy today!!!

[sunstarsmoon]

TICO does make sure their first priority is to fly those home that are stuck. Those that are out of money have to file the appropriate paperwork with TICO to get their money back. Those that paid credit card, go to the credit card company first and then if they can't get a refund. they file the paperwork with Tico. Everyone has 6 months to file the paperwork.

 

Still if you had planned a vacation leaving this saturday, you would not get your money back in time. They say it can take weeks to get your refund.

 

I think its horrible that they were still booking the day before. Makes me nervous to book anything right now with the other tour companies.

[jennierin]

Ever since the dilemma with JetsGo a few years ago I always use a TA registered with TICO and use a credit card. It's just that extra added protection for the "just in case".

 

As for the travelers in Mexico, I have heard that the flight home will be honored but not until their scheduled time on Monday. I am waiting for the 11:00 news to see what is happening now. I am following this pretty closely as I really feel for these people in a sticky situation.

[CaboBride2010]

has anyone heard anything new on this situation it is seemed to drop off the radar, with nothing new on the news lately. So I assumed that everything was worked out. Well, now my friend messaged me that her MIL is VP of RBC Visa and has of course been dealing with all the angry customers who lost money over Conquest going under, the interesting part though is she said there is a papertrail showing Conquest DID pay all these resorts that are now harassing their guests for money!! and some people are still stuck down there from what she has said!

 

My frustration with all this is why isnt the government stepping in and helping?!?! and why is this no longer on the news if people are still stuck there and from what my friends MIL has heard the threats to guests are getting MUCH MUCH more intense and dangerous!

 

So does anyone else know anything new?? I am trying to search for news stories..

[sunstarsmoon]

the last thing I heard was that last monday TICO was wiring money to the resorts that said they were not paid.

[crazyldy]

ok so how do I know this wont happen to me? Do I wait do I not wait with everything that is going on in the economy and airlines going under....

[JenniferSS]

there are several things that you can do to protect yourself-however nothing is fool proof!

 

A couple of things to look out for- this is for any business not just travel-

 

Is the deal to good to be true? If the pricing much lower than everyone elses- it could be a last straw cash grab. I am seeing more and more of the internet companies offering prices that are rock bottom and it makes me wonder....are they operating at a loss? How long can they continue at the to stay in business at the prices they are offering? They have huge overhead-something has to give somewhere a company has to be able to turn a profit to stay in business.

 

Are they offering discounts if you pay in cash ? Again this could be a big grabfor $$ before they go under!

 

Has there been a significant change in the way they operate their business?

 

A couple of ways to protect yourself-

 

Check with your debit card and credit card-what is the policy if your travel suppliers goes bankrupt.

 

Purchase travel insurance but again what is the policy on bankruptcy?