Law Commission take on prepay vouchers

When retailers go bust, customers holding prepaid vouchers can find themselves in a difficult position. The Law Commission is currently consulting on proposals to reform this area of the law where consumers, as unsecured creditors, are currently at the bottom of the pile. When Comet went bust, £4.7 million in vouchers went down the tubes, for example, and you may also remember what happened to Farepak customers. A great example of the role of the Law Commission, which may go some way to solving the problems demonstrated in the clip below.