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NCL lost our trust forever


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12 minutes ago, CaribbeanJen said:

 

AND?

 

Are you that strapped for cash that you can't just be patient about this?  It's not like you can take ANY kind of vacation right now.   YOU SPENT THAT MONEY.  

Fortunately I am not cash strapped because I don't have a job to lose as I am retired and on social security. But that is totally irrelevant to the way NCL operate.

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Just now, jaapie said:

Fortunately I am not cash strapped because I don't have a job to lose as I am retired and on social security. But that is totally irrelevant to the way NCL operate.

I'm really glad you it's not about the cash.  Honestly- that's great.  

 

I don't know how a company like NCL is supposed to sustain being totally shut down.  No cash inflow for MONTHS?  How on they supposed to survive?  Do you really think they want to alienate their customers right now?  Is it possible they are scrambling and doing their best in a completely unprecedented situation and hoping they can stay afloat? (pun intended)   

 

So maybe they don't have the handbook on "How to treat customers during an pandemic" and maybe they are doing their best.   

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1 hour ago, cruiser4801 said:

NCL has no right to keep thousands of our dollars that belong to us.  They have no right to an interest free 3 month loan on my money.  NCL will never get my dollars or business again.  For that matter, I am done with cruising for a long time since they have all behaved the same way.  

 

These cruise companies have shown themselves to be gangsters with our monies.  They will never get mine again.

 

Interest, seriously?  Rates are > ½% right now.  more like 1/10%.

 

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2 hours ago, MoCruiseFan said:

 

Interest, seriously?  Rates are > ½% right now.  more like 1/10%.

 

 

You should let NCL know your source.  Carnival just borrowed money.   "the price Carnival is paying is steep. The group will offer investors an annual coupon of 11.5 per cent, equating to over $450m in interest costs a year,"  

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I was just reading a thread yesterday where a guy filed a refund more than 90 days ago and still did not receive any compensation. I mean, there are certain limits by banks and by civil law on how long the refund can take but usually it never exceeds 90 days.. After 90 days I would start looking for a lawyer

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8 hours ago, Double Jack said:

 

Not 90 days worth of human intervention.  Don't make excuses for poor behavior.

I'm not making excuses at all, just telling it the way that it is. This isn't just an NCL problem since all of the cruise lines are in the same boat so to speak. Tens of thousands of refunds to make with limited staffing resources. And it is "up to 90 days", not that everyone will have to wait 90 days. I'm seeing people on other cruise lines posting that they are getting their refunds and if I cared to look it wouldn't surprise me to find out the same holds true for NCL. 

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6 hours ago, MoCruiseFan said:

 

Interest, seriously?  Rates are > ½% right now.  more like 1/10%.

 

 

You realize the rate from the Fed is not available to the masses and I can guarantee you that cruise ships LOC are not going to get the best rates. In fact I am positive that they will be doing whatever they can not to need a new one.  I am sure the LOC they currently have is being used but the rates that would be offered to them currently would make Cousin Guido’s coal black heart fill with joy.

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2 hours ago, sparks1093 said:

I'm not making excuses at all, just telling it the way that it is. This isn't just an NCL problem since all of the cruise lines are in the same boat so to speak. Tens of thousands of refunds to make with limited staffing resources. And it is "up to 90 days", not that everyone will have to wait 90 days. I'm seeing people on other cruise lines posting that they are getting their refunds and if I cared to look it wouldn't surprise me to find out the same holds true for NCL. 

You are correct.  Completely agree its a cruise line problem.  That means it’s not a consumers problem they are taking so long.  Just dispute with the credit card company.  After all, the cruise line agreed to the chargeback process when they chose to accept credit cards.  Too bad if they dont like it.  My loyalty is too my family and wallet.

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20 hours ago, SeaShark said:

 

Except, of course, that the Federal Maritime Commission does impose financial responsibility requirements on cruise lines operating from US ports. Deposits are unearned income and are not revenue to the cruise line until such time as the cruise completes.

I understand that but these requirements are more like bank liquidity rules.  They would need a certain amount of cash and financial stability.  That doesn't mean they need to have the cash on hand for every single future cruise booked and paid for.

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2 minutes ago, buckeyefrank said:

I understand that but these requirements are more like bank liquidity rules.  They would need a certain amount of cash and financial stability.  That doesn't mean they need to have the cash on hand for every single future cruise booked and paid for.

 

Obviously...however, the guarantor DOES have to be able to have the cash to satisfy what could not be paid. The guarantor pays what the cruise would not.

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16 hours ago, KateQ22003 said:

They aren't paying those things 120 days in advance.

No business holds onto 120+ days of operating cash.  NCL doesn't have a legal fiduciary duty with regards to payments received for future cruises.  When the cruise is paid for, cash is debited (and deposited into their operating account) and deferred revenue is credited.  That cash is utilized for normal business expenses and capital expenditures as management sees fit to spend it on.  When the cruise happens, they do a journal entry to debit deferred revenue and credit cruise revenue.  

 

It does not equate any way at all to a security deposit that is given for something like rent.  That is obligated to be returned at the end of the lease term and is legally required to be kept in a separate cash account to be returned at the end.  They are totally different legally.  I'm sorry but just because you don't like it, doesn't make it unethical.

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