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Originally Posted by psyko514
If the company has declared bankruptcy, there are no funds to be had in said bank account, meaning no funds to issue refunds with.
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Just to add to that possibility is:
If the company has declared bankruptcy, there could be millions of dollars in said bank account, however once the bankruptcy is declared it goes into the hands of a Trustee and all bank accounts are then blocked - the only debits in the account are those authorized and signed for by the Trustee. After a financial statement is produced & they know where they stand with the finances - they hold a creditor's meeting. After all those steps and deciding it can't get back on its feet and resume operations by working a payout plan with it's creditors - then the funds start getting released - the travellers are almost always the last to get paid. If you paid for insurance, hopefully you're covered. If you have a creditcard, some have insurance that you may not be aware of included in your yearly fee - or it's part of their guarantee. Go online and check what benefits you have as a cardholder.