Gift card and Chapter 7
March 10, 2008 4:08 PM Subscribe
I have a nontrivial balance on a gift card for a local retailer that has gone out of business and is filing Chapter 7. What are my options?
posted by harmfulray to Work & Money (10 answers total)
I received a gift card for several hundred dollars to a local bike shop a few months ago and have been slowly using it -- too slowly as it turns out. Over the last few weeks I stopped by a few times trying to make a purchase but the shop was closed even though it was during normal business hours. I didn't think much about it because all the inventory was still there and I assumed it was probably a personal situation or something.
I finally tried calling and found that their phone was disconnected, and then I found their web site dead too. Through Google and archive.org I was able to find the owners' names and email addresses. I sent a polite inquiry about how to liquidate my balance and received no reply. After further research I found one owner's phone number and spoke to her this afternoon. She told me that they were going through Chapter 7 (it wasn't clear to me if they've filed yet) and that she had forwarded my email to their attorney.
I got their attorney's contact information and am waiting for him to return my call, but I would like to know what my prospects are for recovering the balance and if anyone can recommend a strategy to improve them.
This is in Sonoma County, California. Thanks!