Q: I purchased something on layby and the store has gone out of business. Can I get my money back?
A: As long as you haven’t fallen behind the payment schedule, you’re entitled to pay the remaining amount due and collect the product. If the product isn’t in stock, you’re entitled to a refund.
If your payments are up to date but you’re unable to pay the remaining amount for financial reasons, you’re entitled to a refund on what you’ve paid so far.
To get the product or money you’re owed, you’ll need to get in touch with the company’s liquidator or receiver and register a claim with relevant proof (e.g. a receipt).
There’s no guarantee you’ll get the item or your money back, but as a layby customer, you’ll generally take priority over unsecured creditors.
Note: This post is brief and general in nature. You should not treat it as legal advice and should seek professional advice before taking any action in relation to the matters dealt with in this post. Armstrong Murray accepts no liability for losses suffered by any person or organisation who may rely directly or indirectly on this post.