Belk is known to steal money from gift cards and I have returned stuff bought on a gift card for which I am still waiting for my refund. If I had only used a credit card I could have disputed the charge.
"When a store files for bankruptcy, payments are frozen and creditors must file claims in order to get paid. Gift card holders will unfortunately find themselves out of luck or with limited options. This isn't even up to the business. The court decides whether – and for how long – to accept gift cards."
It did a bait and switch on me, I purchased the gift card but when I submitted it, it told me the promo was over, whilst it was still advertised on the front page and automatically continued to make the purchase with the full prices of the gift cards. If they don't rectify this soon, I will probably start a charge dispute.
"When a store files for bankruptcy, payments are frozen and creditors must file claims in order to get paid. Gift card holders will unfortunately find themselves out of luck or with limited options. This isn't even up to the business. The court decides whether – and for how long – to accept gift cards."
Exactly. I had a BonTon gift card for $200 and about 5 days after they filed for bankruptcy, it wasn't any good. So unless someone is going to use gift cards really soon from someplace that has filed bankruptcy, I wouldn't take the chance. And BonTon stayed open for a few months but they turned their operations over to a liquidation company that won't honor gift cards. Same thing happened with Toys"R"Us.
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This, from the BBB website:
"When a store files for bankruptcy, payments are frozen and creditors must file claims in order to get paid. Gift card holders will unfortunately find themselves out of luck or with limited options. This isn't even up to the business. The court decides whether – and for how long – to accept gift cards."
This, from the BBB website:
"When a store files for bankruptcy, payments are frozen and creditors must file claims in order to get paid. Gift card holders will unfortunately find themselves out of luck or with limited options. This isn't even up to the business. The court decides whether – and for how long – to accept gift cards."