MORTON, MS

Clrculauon = '1500
WEEKLY

BBB: WHAT TO DO ABOUT

BANKRUPT RETAILERS
,. <<\
?.>w Ridgeland. July 2 I have to file a claim with the
- ' As a result of thc bankruptcy court. !
declining economy, an .Warranties.
increasing number o f Validity of outstanding !
retailers are closing (heir warranties is different in
doors and lea\ ing shoppers each case. If a manufacturer
confused and concerned. goes out of business,
"Shoppers are left consumers may be able to
wondering what wil! happen rely on waranties provided 1

t o goods they haven't by retailers. Many extended

received. gift cards, and warranties andservice plans
outstanding warranties;" are provided and
said Bill Moak, President' administered hj- third
CEO of the B e t t e ~ E s i n e s s parties. and they typically
Bureau (BBH) Serving are nor affected by retailers
Mississippi:-The following going out of bi~siness.
is some advice that n c .Gift cards. Under
offer t o consumers if a Chapter 7 bankruptcy, the
retailer files for Chapter 7 consames itlust file a claim
bankruptcy." and gcnerallj will receive
Goods or sen'ic.5 part o i the \ a!lie ofrhe card 1
due. Unfortunatel>. under bask in Chapter 11
bankruptcy l a u s . sivdntions. the courts make
eonsumers are at the back decisions on whether the
o f t h e line regarding b~isinrssmust honor gift
benefits. Normally any gain,; rartl; t v gift certificates
from the sals of company "Sometimes
iI
assets go first to paying retailers have wooed new j
back secured creditors and custorne:s by accepting a 1
employee waees. bsnkrupt competitor's gift i
Customers who paid with cards. Our ad\~icein these :
credit cards, howevel. ma) cases is for the consumer
beable to dispute :he charge t c iedeern these cards as
with the credit card soon as possible," said
company and get their Moak.
money back. Those paying The RBB has been
by debit card or check will serving Mississippi
consumers and businesses
since 1964. The reliability of
companies can be checked
online at www.ms.bbb.org
'rby calling 800-987-8280.