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It seems to be the case that as another week passes another well-known retailer goes into administration.
Clothing retailer's such as Republic has become another casualty during 2013, following in the unhappy footsteps of Jessops, Comet, Woolworths, Habitat and MFI, to name but a few.
But what about customers who have ordered or purchased goods from a store, only for it to go bust? What happens if you have purchased a faulty item from one of these stores?
There is no guarantee that you will get your money back, even if you have ordered your goods and paid for them. However, if you have paid by credit card or debit card, you may be able to claim back some or all of your money.
|Card Protection Schemes|
|Credit Card||Debit Card|
|Purchases under £100||
For purchases below £100, you may be protected by Chargeback – a voluntary scheme operated by Visa and MasterCard.
You may be protected by Chargeback – a voluntary scheme operated by Visa and MasterCard that covers Maestro, Visa and Visa Electron debit cards.
|Purchases over £100||
Section 75 of the Consumer Credit Act protects you for purchases between the value of £100 and £30,000 if the company goes bust.You're protected even if you only pay the deposit on your credit card and the balance by cash or debit card. This deposit can be less than £100 so long as the full value of the goods is between £100 and £30,000.
Check out which.co.uk consumer rights website for more information on reclaiming refunds and how to structure the refund letter.
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