Company went bankrupt, chapter 11

[Susan Kost]

Michigan. I ordered products from a company on the internet. They offered 100% rebates. I sent in my rebates and was told the rebates would be sent out 7/5/01. In addition, I returned 1 item. They said my credit card would be credited in 14 days. Now their Web page announces that they filed Chapter 11. What recourse do I have? The products are all over-priced. The only reason I kept them is because I was suppose to receive a 100% refund.

Susan Kost

 

[I AM ALWAYS LIABLE]

Michigan. I ordered products from a company on the internet. They offered 100% rebates. I sent in my rebates and was told the rebates would be sent out 7/5/01. In addition, I returned 1 item. They said my credit card would be credited in 14 days. Now their Web page announces that they filed Chapter 11. What recourse do I have? The products are all over-priced. The only reason I kept them is because I was suppose to receive a 100% refund.

Susan Kost

My response:

You are a creditor of the company. The company filed for Bankruptcy Reorganization. If you, as a creditor, had a chance to get your money, what would be the point of Bankruptcy ?

You could, of course, file a creditor's claim with the Bankruptcy Trustee. But, don't hold your breath thinking you'll see a dime, especially after you've spent all that time filling out the forms.

In summary, your money's gone.

IAAL