There are many people who have discovered that they have ordered goods or services and the company has subsequently gone bust leaving the consumer out of pocket. So what happens in these situations and will you get your money back?

For any company that has gone into administration, you will be classed as a creditor. However there are likely to be many others ahead of you in the queue so you are unlikely to see any money back from the company itself.

If you paid for the goods or services on a credit card, you will be covered under Section 75 of the Consumer Credit Act. This means that you can claim a refund from your credit card provider as long as the purchase was between £100 and £30,000.

If you bought the goods or services on a debit card, things are a little more complicated. It you made the purchase using your overdraft, technically you made the purchase on credit and are therefore covered by the Consumer Credit Act, as above.

If you used a Maestro debit card, you are not entitled to a refund unless the goods or services were ordered from a website whose centre of operations is based outside the UK.

If you used a Visa debit card, there is something known as the chargeback scheme. This is where Visa can refund if goods or services are not provided or delivered as described. You must make a claim within 120 days of when you expected the goods or services to be delivered or the company going into administration.

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