What to know about returning gifts

It happens. You get a gift and you want to return it. Most big stores make it easy to bring things back, but you've got to know the rules. And they may be different for different types of merchandise.

"Electronics may have a shorter return period than clothing," said Edgar Dworsky, founder of ConsumerWorld.org. He says the return rules for electronics might also be tougher.

"Like if the package has been opened, there could be a restocking fee," he said. "You may not get any money back at all if parts are missing."

His advice: Check the return policy so you know your rights. And remember: Things will be a lot easier if you have some type of receipt.

"If you don't have that receipt or gift receipt you may get nothing or the lowest price the item has sold for in the past 90 days," he said.

Keep in mind: The return policies for online sales may be different. Don’t assume you can take an Internet purchase back to a company’s physical store. You may have to send it back.

More Info:

Everything You Need to Know About Holiday Return Policies

Consumer World: List of store return policies