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 🙃

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