first, your thoroughly read your contract and act as directed within the contract. As to having a right to rescind the contract would be determined by what is in your contract.

Once you get beyond that and determine you have a right to rescind the contract, you do as you have already and if they do not refund your money, you would be relegated to suing them. If they have filed bankruptcy, it is likely you won't get your money but you still need to file a claim with the bankruptcy court against the company.