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<p>Where a business collapses with no assets there are limited opportunities for consumers
to obtain refunds, but the Government has issued guidance to help Insolvency Practitioners
to highlight the best options to consumers.</p><p> </p><p>Where a consumer has paid
by credit card and not received the goods or the services they have paid for there
are extra protections where those goods cost between £100 and £30,000. In these cases,
the consumer can claim back the total value of their prepayment by contacting their
credit card issuing company. Consumers who purchased goods by debit card may also
be able to claim through a chargeback scheme as long as they do this within a certain
time period (normally 120 days). Further information on chargeback can be found at:
<a href="http://www.theukcardsassociation.org.uk/individual/chargeback-for-credit-and-debit-card-purchases.asp"
target="_blank">http://www.theukcardsassociation.org.uk/individual/chargeback-for-credit-and-debit-card-purchases.asp</a>.</p><p>
</p><p>In August 2018, the Government announced its intention to extend existing powers
to investigate, disqualify and prosecute directors of insolvent companies to also
cover former directors of dissolved companies. This includes instances of directors
repeatedly dissolving companies and leaving behind debts and other liabilities – often
to the detriment of small businesses, consumers and employees.</p>
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