Cruise Value Center shuts down.

[FLCRUISER]

http://www.travelpulse.com/Resources/Editorial.aspx?n=48099
http://www.thisworldtraveler.com/

[Host Mike]

Cruise Week says that they have heard that "it's estimated almost $3 million in client final payments were never forwarded to the suppliers. Also, sources say Cruise Value Center has in excess of $1.5 million of insurance paid in, but never paid out to the vendor."

[NSWP]

What a criminal act by the company, to allegedly lose that money..4.5 million greenbacks, where is the FBI?

[Suzy Cruisy]

Wow. 

It's so 'beyond me' that such a thing could happen, as agents such as myself in California (the strictest state for agencies) are SO regulated so this type of thing doesn't happen.  Other states maybe will learn a lesson on this.   

~Suzy

[NSWP]

Will those who paid the monies ever it get it back?   In Australia all travel agents are members of the Travel Agents Compensation Fund, if one goes broke, the fund compensates.  But I think the CVC closure might be more than just going broke.

[f-mattox]

If they paid by credit card they can contest the charges and will have a good chance;  otherwise, probably not.  Even if CVC is taken to court and ordered to pay restitution, an online agency would probably not have anywhere near enough assets to reimburse fully.

[NSWP]

F-mattox, correct..you cannot get blood out of a stone..and I fear CVC is a big boulder !

Those who have lost cruise money..good luck anyway.