CyberRebate.com, an Internet startup promising full rebates to customers for items bought through the company's website and used by many College students, filed for Chapter 11 bankruptcy Wednesday in New York.
The company offered customers a variety of electronics, home products and children's toys through its website at heavily inflated prices. After 12 to 14 weeks, CyberRebate promised to refund most or all of the purchase price.
This week's move promises to leave many College students and other customers in the lurch if the company proves unable to pay customers for items they bought--and for which they now expect payment.
Alex X. Berrio Matamoros `02, a recent customer of CyberRebate, said the company owes him about $1,700 for items he bought through the website, including a cordless phone, computer power cords and a new scooter.
"I'm supposed to be getting a check this week or next," Berrio Matamoros said.
But according to the office of New York State Attorney General Eliot Spitzer, if
Berrio Matamoros wants a check at all, not to mention the full amount he is owed, he may have to put forth significant effort.
"Bankruptcy proceedings usually take a long time and frequently creditors receive only a small part of their claim," warns the office's webpage on the CyberRebate.com case.
Read more in News
Take Over: PSLM Sits InRecommended Articles
-
ReCooperateJust a few hours before the historic bombing of the Center for International Affairs on October 14, 1970, the Harvard
-
Coop RebatesThe Harvard Cooperative Society this week began distributing a record-breaking amount in rebates to members from last year's purchases. The
-
Computer Glitch Forces Council To Void Elections"Frustrating" is how they described it. Most candidates for the Undergraduate Council said they think the nullification of last week's
-
Harvard To Deny Rebates On Meals to War FastersThe Committee on Houses in a two-hour meeting yesterday afternoon voted to deny a rebate on meals to students fasting
-
Coop De Grace"A LL of us at the Coop look forward to the pleasure of serving you and would like to extend
-
Coop Books More ExpensiveIn the last week, undergraduates have been groaning as they peer into their mailboxes to find hefty Coop bills. But