ABA Family Legal Guide

Contracts and Consumer Law

When Things Go Wrong

Dealing with Failing or Failed Companies

If the financially troubled company is holding goods for me on layaway, can I still get my goods?

Most companies that go out of business will notify people they are closing; often, they want you to come in and finish the purchase because they need the cash. If they've tried to contact you and you haven't responded, they may sell those goods, and you'll have no way to recover the merchandise, although the law still entitles you to any money you paid toward the purchase.