New extended warranty law takes effect Jan. 1

December 28, 2009 4:50:36 PM PST
There were a lot of extended warranties sold this holiday season, cell phones and home theaters are two items consumers like to protect with the plans.

But here's the problem: extended warranties are bought, then often lost or forgotten. Sometimes the warranties are from third parties or are resold and the retailer can't even help.

But that is changing on January 1 when a new law requires retailers to keep extended warranties on file for their customers.

That way, consumers can just go back to the store with the product without searching for paperwork.