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Company - Liquidation

  • 30-10-2008 10:37am
    #1
    monkeytronics
    Closed Accounts Posts: 191 ✭✭


    Hey,

    I was wondering if you have purchased goods from a company (€2,500) on your credit card and the company goes into liquidation. Are you covered for a charge back on your credit card or have you effectively lost the money???

    Thanks


Comments

  • #2
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Contact your bank immediately.


  • #3
    mickoneill30
    Banned (with Prison Access) Posts: 3,073 ✭✭✭mickoneill30


    I'd say you're OK but like jor el said get on to your bank. I've had to do a couple of chargebacks for non receipt of goods before and they were pretty good.

    http://www.visaeurope.com/merchant/operationsandsecurity/rulesandregulations/chargebacks.jsp


  • #4
    ejmaztec
    Registered Users, Registered Users 2 Posts: 24,227 ✭✭✭✭ejmaztec


    But if the liquidator/receiver has frozen all of the accounts, surely there won't be any available funds on which to reverse the transaction.


  • #5
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    Only if the company had actually received payment from the credit card company, which it probably hadn't yet. Also, credit card purchases contain a certain amount of insurance too, so even if payment had been sent, you may still be covered. But I'd get onto the bank right now, any delay will increase the chance of loss.


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