"One of the biggest rebate processors, the Continental Promotion Group , has filed for Chapter 11 Bankruptcy."
If you deposit a rebate check from them IT WILL BOUNCE, and you will be stuck for the fees. This isn't limited to Canon- they process rebates for Costco, Home Depot, Bed Bath and Beyond, Canon, Motorola and Samsung among others.
Costco is going to allow people to bring their Costco rebate checks into local stores for redemption, but I can't find any statements from Canon or anyone else.
Lowbyte wrote:
"One of the biggest rebate processors, the Continental Promotion Group , has filed for Chapter 11 Bankruptcy."
Yet another reason I never buy anything on the promise of a rebate...
I guess if you think about their business model, this shouldn't really come as a surprise.
These rebate processors make their profits on the calculated percentage of eligible rebates that never get submitted; if the number of rebates submitted exceeds what the processor budgeted for, they lose money.
When the economy starts to tighten up and cash is scarce, more people are likely to send in rebate claims.
Likewise, I won't be surprised when people don't get their live.com instant rebates from eBay purchases, either...
I'm happy they went broke. I wish they would all go broke. I have been ripped off multiple times by the "El Paso" company that processes rebates even though I meticulously put the rebate together, double and triple checking it to make sure it was correct.
The only company that would help was Hitachi who got involved at the corporate level and got me my rebates. I got ripped by the Canon rebates on a couple lenses a few rebate cycles back and if it wasn't for my dealer I would never have gotten them. The amount of time it took was way beyond the amount I finally got.
I hope this will wake companies up and stop all rebates.. they are nothing but a rip-off. All they have to do is discount the product at the dealer level the same amount they are rebating and all would be good. Then you wouldn't be paying sales tax (if you buy it at a store) on the amount you are getting back (you are loosing 8-10% on your rebate before you even send it in because of the sales tax)(I know most stores don't charge ST on web orders).
I quit buying products that offered rebates long ago. The only reason companies offer rebates is because they are gambling on the people that won't waste the time to send them in and then won't waste 8 to 16 to 24 weeks to follow a $50.00 rebate when the company constantly says "They never got your submission", then you resubmit and wait 8-10 more weeks to get ripped.
yep and with the instant rebates the price probably went up just as the rebate kicked in whichs wipes out most of the rebate anyway. which means the only guys getting the rebate is the dealer.
Not preaching, but the whole rebate thing is a scam. I have been ripped of once a while ago when I was gullible. Since then for most of the stuff, I just wait for the price to fall below the pain threshold. For lenses and the like, the forums are better places since once the rebates are on, the prices on the forums follow.
I've gotten every significant rebate I've sent in, including all my Canon rebates. I don't like 'em, but they're an easy way for manufacturers (rather than retailers) to run a sale.
Anyone know if this also affects the recent SanDisk rebates that were to be issued Prepaid VISA cards?
Currently the Canon rebates are instant. The Consumer won't lose out, but I wonder if the retailers are going to be able to collect on their portion of the "loss" they took by offering the instant rebate. I'm sure that somehow they get reimbursed...
The third-party rebate processing company, Continental Promotion Group (CPG), that was responsible for processing rebate claims and issuing mail-in-rebate (MIR) checks for Canon-brand printer and video products (along with many other products of a number of other companies) filed a Chapter 11 Bankruptcy petition on Friday, November 14th. This disruption in service will impact a number of Canon customers claiming their product rebates, temporarily, as we move our MIR operation to another vendor to ensure continued support and service this holiday season. Unfortunately, before CPG's bankruptcy filing, a number of checks were distributed to customers that may bounce. While we are exploring ways to arrange for such checks to be honored despite CPG’s bankruptcy, any customer who has received a rebate check for printer or video products dated prior to November 14, should not cash the check until further notice. Furthermore, any customer who has not submitted rebate materials should refrain from doing so until further notice, as we need to make sure that rebate materials are directed to a location where they can be made available for processing. Canon is diligently working on steps to enable eligible consumers to be able to cash or to receive valid replacement rebate checks as soon as possible. A new vendor, The Advertising Checking Bureau, Inc. (ACB), has already been secured and we hope to be up and running shortly with ACB supporting our existing and upcoming MIR promotions planned for the balance of 2008 and beyond. As of Saturday, 11/15, both the Canon USA home page and the Canon CIG home page have alerted customers to this issue and we will begin actively reaching out to these impacted customers with ACB's help soon. We will provide the public with more concrete information and next steps on our Web site by Friday, November 21st and will update CP-Net accordingly, to ensure our dealers are aware of all activities related to this issue.
Canon sales representatives will also be fully briefed on the situation shortly and will be able to address issues and questions raised because of this situation. Until further notice, please direct all inquiries to Canon’s Customer Call Center 1-800-OK-CANON.
We appreciate your understanding and support during this transition and as we work to resolve all customer difficulties tied to CPG's failure.
Thank you for your ongoing support,
Eliott Peck
Vice President and General Manager, Sales
Consumer Imaging Group
Canon U.S.A., Inc.
It's a very subtle link off the Canon USA Homepage too (near the bottom and you have to click one link to get a second link, then click that) to get to this page:
It pretty much regurgitates what Henry said upthread but addresses it to "Valued Customer"
Funny how they said in the email that the announcement was made on the USA homepage. I wouldn't really call that an "announcement"...I'd call that a CYA link. They don't want this public (who would), but had to do something to cover their butts...sheesh! Good thing I didn't get that 10-22 yet!
This is an official message from Canon U.S.A., Inc.
The third-party rebate processing company that was responsible for processing rebate claims and issuing mail-in rebate checks for Canon-brand printer and video products (along with many other products from a number of other companies) filed a Chapter 11 Bankruptcy petition on Friday, November 14. The funds provided to them by Canon U.S.A., Inc. (and other companies) apparently are no longer available to satisfy the rebate checks such company issued on behalf of Canon and other companies. Regrettably, as a result, you should not cash the rebate check you recently received for such products, as it may bounce. We apologize for any inconvenience, delay or confusion this may cause. We are doing everything in our power to promptly rectify the situation.
Accordingly, we request that you take the following actions:
If you are holding or receive a rebate check for printer or video products which is dated on or before November 14, 2008, please do not cash the check, as it may bounce. Please look for updated postings on the Canon U.S.A. website on or about November 21, 2008 for further instruction on how to exchange your check for a new check that you will be able to cash. If you have not yet mailed in your rebate claim materials, please hold such materials until you receive further instruction. We are making new processing arrangements, with a new mail-in address. Please look for updated postings on the Canon U.S.A. website on or about November 21, 2008 for further instruction on where to mail your rebate claim material and how to exchange your check for a new check that you will be able to cash. Check our website later this week for further instructions and contact information for any questions you may have. Again, please do not cash any rebate checks for printer or video products which are dated on or before November 14, 2008, as they may bounce.
We are committed to ensuring that you receive your rebate as soon as possible and that you will continue to have full confidence in Canon U.S.A., Inc.
Canon is serious about their rebates and has intervened for me more than once. That said most any rebate is really a very big hassle. I don't even keep track of $20 or less rebates (I get the check or I don't) because the mental frustration is just too much.
molson wrote:
Likewise, I won't be surprised when people don't get their live.com instant rebates from eBay purchases, either...
Because you expect Microsoft to go belly-up?
I haven't submitted lots of rebates, but have been scammed by PNY, a fairly big electronics manufacturer. It was enough to make me distrustful of rebates unless they're from a really well-respected company. Reading about troubles with Canon rebates in the past hasn't helped any.
At least B&H is doing something about it. Sirius Radio is another company affected by CPG. They (CPG) sent me a postcard six months after I bought the rebate items stating that they didn't receive those UPC box cutouts. Sure. I ran that by Sirius customer support who told me to resubmit. Sirius corporate are either unaware of the bankruptcy, or are just passing the buck, or minus bucks if you cash the CPG check. As far as they are concerned, it's my problem. I am just thankful that they don't handle pensions.
SoundHound wrote:
Canon is serious about their rebates
FWIW, we began receiving updated forms from Canon USA for products of theirs we sell which are eligible for mail-in rebates. I know that itself won't help the customer with a rubber check or the one who mailed his rebate request off three days ago, but it does seem Canon USA is treating this seriously.
