More than a few companies are having some financial trouble these days, and some are even starting bankruptcy proceedings. If a company that you do business with is in that category, you may need to take a few extra steps to guarantee that there isn’t a ripple effect into your finances.

1. Check if the business will continue to honor returns, exchanges and gift cards and other customer programs. If a company has gone into bankruptcy proceedings, it needs permission from the court to continue such programs. In general, the court will typically approve such requests but it can depend on the specifics of the situation. Furthermore, during bankruptcy proceedings, customers aren’t always a priority — creditors usually take precedence.
2. Wind up any existing business as soon as possible. If you’ve been sitting on a credit, it’s generally advisable to spend that early. Otherwise you may wind up in a position where you’re hoping a store will honor its obligations but you don’t have a guarantee.
3. Use a credit card for any new purchases. If a company can’t deliver on merchandise, you can dispute the charge with your credit card company. You also generally have a little more latitude when it comes to returns. Cash, check and debit cards have none of the consumer protection offered by a credit card. You may also want to limit new purchases from a company in bankruptcy. You definitely want to avoid purchasing such a company’s gift cards or warranties.
4. Verify your warranties. Check into whether your warranties for products bought through the bankrupt business are actually from the business or from a third-party warranty issuer. No matter which, check to make sure that the warranty is still in effect. Don’t be surprised if it isn’t, though: it’s not uncommon for warranties to be ignored if a business runs into trouble.
5. Find another supplier. Even if the company can find a way to reorganize and stay in business, there are likely to be delays in fulfilling orders and conducting other business. It’s unfortunate but if you need to guarantee that you get your products, you should start hunting for a new supplier now.
6. File a claim with the bankruptcy court. If the business in question can’t make good what it owes you, you may have no other recourse than to file a Proof of Claim form with the court overseeing the bankruptcy proceedings. Unfortunately, if a company is in a poor enough position to declare bankruptcy in the first place, it may take years to resolve — and other creditors may be ahead of you to get paid.

If you aren’t sure if a company that you do business with has actually entered bankruptcy proceedings, you can usually find out by searching the American Bankruptcy Institute’s website. The ABI reports on bankruptcy news on a regular basis. If you’re dealing with a small, local company, however, you may find more information by contacting your local Better Business Bureau or a local consumer protection agency. Even if such organizations don’t have specifics on bankruptcies, they can at least inform you of problems other shoppers are having.

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