Just an update, went to a Coach store today near me, the SA said that i could mail in my bag for an assessment but because i have had it for 4 years now, the issue will be put down as wear and tear and it might not be repaired as the leather with the same finish as the rest of the handle will not available. Also, the other loops require repairs as well. In her experience of sending bags in for repairs, other than a turn lock replacement or something similar, the bags got returned back as is or were issued a credit under the old policy, not applicable now...
I have not decided what to do yet with the bag...i did get another bag to replace this one, was lucky enough to find it at clearance!