Lifetime Membership Out of Business

[Dnathan]

What is the name of your state (only U.S. law)? AZ

We have a $4000 lifetime membership to a travel club that has since gone out of business, or more accurately has put thier business on "hold". We have not received any value from it. The club has sold these lifetime memberships to many people.

What does the law say about lifetime memberships and can we recover our loss if they close up shop?

 

[seniorjudge]

Q: What does the law say about lifetime memberships and can we recover our loss if they close up shop?

A: Yes if you can find a responsible entity with money.

 

[Dnathan]

Thanks for your response.

Well they have no money.

It seems strange that someone could sell lifetime memberships and close shop the next day without repercussions. An unscrupulous person could make a lot of money doing that.

I think these partuclar people are well-intentioned, just broke. It seems to me they would be in legal trouble as well.