What Do You Do When a Company Owes You a Couch?

, executive director of the National Association of Consumer Advocates, about what rights consumers have and what they can do to get their money back.I know this isn’t what you’re hoping for, but the answer is … hold tight until it reaches out to you.

There are a few routes a company can take when it goes into bankruptcy, most of which are going to require some waiting before you see a cent — though the good news is that customers have priority for getting paid back, especially when the plan is to get back into business . Under Chapter 11 laws, the money owed to customers becomes a “priority claim,” Rogoff says.

Or, if a company chooses to liquidate its assets without starting back up, you still have a priority claim. “If you’re a customer and you see that the retailer is going to exit the bankruptcy with a Chapter 11 plan, whether it’s a plan of reorganization or plan of liquidation, it means that your priority deposit claim has to be paid in full,” Rogoff says.

The one instance in which you’re less likely to get your money back is if a company is sold to a buyer that wants to continue the business. They can decide to take on those outstanding obligations, but they don’t have to. In the case of Interior Define, the brand’s new owner, Havenly,

Well apparently not to take it lying down 🙃

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Ukraine-based blockchain firm reports company 'stronger' one year into warEverstake chief executive officer Sergey Vasylchuk said the staking provider and its 100 employees had become stronger amid the military conflict with Russia that started in 2022.
La source: Cointelegraph - 🏆 562. / 51 Lire la suite »

Mental health treatment company must repay N.J. $1.1M for hiring unlicensed and unvetted workersThe report by the state Comptroller also criticized the state for not checking if employees had background checks. A CC contract. It is disgusting how both the R & D's waste our tax $ with minimal accountability.
La source: njdotcom - 🏆 282. / 63 Lire la suite »

Tejas takes Manhattan: Tomball barbecue joint partners with East Coast delivery companyUnlike DoorDash or Uber Eats, which are essentially middlemen matching up independent restaurants with freelance delivery drivers, Wonder controls the whole process from cooking the food to delivering it to the doorstep.
La source: HoustonChron - 🏆 609. / 51 Lire la suite »

Houston robotics company creates Aquanaut, uses space exploration research underwaterA Houston robotics company uses undersea robots to reduce cost and emissions in offshore industries Excellent article and krbuckle!
La source: HoustonChron - 🏆 609. / 51 Lire la suite »

Megabus services interrupted in Indianapolis, company notifying customersJust a month removed from an announcement of expanded services in Indianapolis, Megabus is facing interruptions in service for Indianapolis customers. Have they at least stopped going up in flames?
La source: wrtv - 🏆 598. / 51 Lire la suite »

'Rust' production company settles firearm charges with New Mexico safety officialsProducers of the 'Rust' film starring Alec Baldwin have agreed to pay a reduced fine of $100,000 to settle a civil suit with New Mexico safety regulators.
La source: CNBC - 🏆 12. / 72 Lire la suite »