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There goes my $500 gift certificate... Any suggestions on how I can recover that, or have it returned to the initial buyer?!
by Smushman 8y ago
There goes my $500 gift certificate... Any suggestions on how I can recover that, or have it returned to the initial buyer?!
- tschwimmer 8y agoYou are very likely to be out the money. The bankruptcy proceedings will determine how giftcard owners are compensated. Hard to say if it will be favorable, but I suspect they may be even less senior than unsecured debt (or they may be categorized as unsecured debt). Consult an attorney, but it may not be worth their time.
- ThrustVectoring 8y agoAsk the initial buyer to file a chargeback if it was purchased via credit card. At least in the US, there's good protections that way for preventing folks from owing money for goods and services they didn't receive.
- brianpgordon 8y agoBut they did receive the gift card. Why should the payment processor assume the risk that, possibly years later, someone doesn't honor the gift card?
- ThrustVectoring 8y agoThey're not assuming the risk, the merchant bank is. And the merchant bank should be mitigating that via holding back a portion of credit card receipts from companies for the specific purpose of honoring chargeback demands.
- tdhoot 8y agoI don't think you can chargeback years later, it's usually 45-120 days.
- szermer 8y agoLooks like the site is still accepting payment for gift cards.
- regulation_d 8y agoIn certain states, money used to purchase a gift card is required to be held in escrow, which would be held separately in receivership. Definitely worth asking about.
- bobbyobee 8y agoJust to add to the others -- if the initial buyer paid with PayPal, they could have up to 180 days from the date of purchase to initiate a Significantly Not As Described (SNAD) claim.