[dateline] -- Millions of consumers will buy gift cards during the holiday season, but with many businesses in financial trouble, will the gift cards still work in the future?
Many Central Ohioans received an e-mail detailing that some stores are closing their doors after the holiday season.
NBC 4's Amy Basista spoke to some of the companies, who said the information is misleading.
There are a few things to keep in mind when buying gift cards for the holiday season:
1. Do your homework.
"I think it's still OK to buy gift cards. You need to do your research and see if there are reasons as to why the store may be closing in the future," said Manilath Southammavong, of the Ohio Attorney General's Office.
2. Tell the recipient to use the gift card right away.
3. If you have any, spend it now.
Under Ohio law, consumers have two years to use gift cards. They will be honored for that length of time. And if you buy a mall gift card, you have to read the fine print to be aware of certain time frames.
"Use your credit card because consumers have more protection with credit cards," Southammavong said.
If a company goes bankrupt, they have to file with the state where they are headquartered.
Companies then, by law, have 45 or 90 days in Ohio to get rid of merchandise.
"If the store files, they don't close immediately, so use your card as soon as possible," Southammavong said.
If you can't use your gift card because the company goes under, call the attorney general's office at 1-877-244-6446. They can help consumers file a claim through the bankruptcy courts.
Stay with NBC 4 and refresh nbc4i.com for additional information.
To submit a story idea or news tip, e-mail us at stories@nbc4i.com.
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