Sweepstakes winners payout goes poof?

[Brookswood]

It seems that some people who won the Publisher's Clearing House sweepstakes are no longer getting their yearly payout of their winnings.

The couple, both disabled Army veterans from Cottage Grove, Ore., reached out to the sweepstakes operator and were told that the payment, just under $200,000 after tax, for Tamar’s annuity prize would resume in July, on a quarterly schedule. Then, in April, PCH filed for bankruptcy, listing 10 prize winners among its largest unsecured creditors, court records show. Eight of those were owed more than $2 million each, though their names were redacted for privacy. And the promised July payment to Tamar failed to arrive.

Past winners would have to seek payment from the bankruptcy estate, PCH Digital’s customer service informed them in an email.

IOW, if possible, get your payout in cash ASAP. If not cash, get it turned into a annuity from a reliable insurance company. Good luck either way.

 

[Oldeagle66]

I'm not surprised at all. Greed, shadiness and dishonesty is more prevalent recently. I've read of several casinos just not paying out, even some lottery winners can't get their winnings. These companies and local governments know there are no consequences anymore.

 

[DaveA]

How about not gambling - -period. Sounds like that would alleviate future problems.

 

[fuzzybuddy]

When was the last time you bought a magazine? Even Mad and Playboy are history. I kind of thought getting $250,000 a year for life was never going to happen. It was inevitable that PCH would bail out.

 

[That Lady in PA]

Of course they went bankrupt… They sold magazines!

 

[KSav]

I honestly didn't think anyone had ever actually one a Publisher's Clearinghouse sweepstakes.

It's funny that I just stumbled across this thread; a few minutes ago I posted about buying a Powerball ticket. But I'm with @DaveA; I've never believed in the whole lottery/gambling thing. I think I'm the only person who has visited Las Vegas, twice, and not gambled.