I have a gift card for a company that is in bankruptcy.
It depends. Bankruptcy law permits a company that files to stop honoring gift cards, but in some cases they continue to do so, at least for a while. It depends on the type of bankruptcy. In many Chapter 11 bankruptcies the debtor will continue to honor gift cards because it wants to keep its customer base. If you hold a gift card (or gift certificate) from a bankrupt company, you can file a Proof of Claim with the court. You can get the form from the clerk of the bankruptcy court or from the court's website. Of course, bankruptcy companies are short on assets, so you may not get anything for your claim.
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