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Your Rights If Dissatisfied With Your Credit Card Billing Or Purchases
Next time you find a questionable charge on your credit card statement or find you are dissatisfied with a credit card purchase, refer to this information in order to know what your rights are and what actions you are entitled to take according to regulations which cover consumer disputes on credit card billing and credit card purchases.
The Fair Credit Billing Act was designed to protect consumers from unfair billing practices. If you find a mistake on a bill such as a credit card statement, immediately write a letter to the company and in the letter include the following pieces of information:
your name
account number
dollar amount of the error
description of the error and why you believe there is a mistake
How To Dispute Items On Your Credit Card Statement
In order to exercise your rights, mail your notification within sixty days of receiving your statement. Do not bother calling the company as they are not required to investigate any potential errors unless they receive it in writing.
Upon receipt of your letter, your credit card company must do two things:
1. Within thirty days of receiving your letter, the company must acknowledge receipt of it.
2. Within ninety days of receiving your letter, the company must either correct the error or explain why the billing statement is accurate.
Your Additional Billing Rights
During the dispute period, the billing company may not:
attempt to collect the dollar amount in question nor may they
report you as delinquent on the disputed amount.
The disputed charge may remain on your statement during the investigation and the company is allowed to charge you interest on the amount. You should pay the portion of your bill not in dispute. Don't ignore paying the entire bill simply because one item is being disputed. That will make your situation worse.
The Outcome Of Your Dispute
If you receive an explanation from the billing company that you are not satisfied with, you may write back to them within ten days telling that you still refuse to pay.
If you do refuse to pay, the company cannot report you as delinquent without also reporting that you are disputing the bill. The billing company must also inform you of everyone that they report the bill delinquent to, for example, credit reporting agencies, and they must also notify those organizations when the matter has been settled.
If the billing company fails to comply with any of these, you do not have to pay the first $50 of the disputed amount, even if your bill is correct.
The law is also on your side if you have purchases made with a credit card that you are dissatisfied with. The Fair Credit Billing Act is the U.S. federal law that guarantees your right to not pay as long as certain conditions are met.
If you ever purchase goods or services with your credit card and end being dissatisfied, step one is to try and resolve the issue directly with the company you made the purchase from. If this doesn't work, you have the right not to pay the remaining amount due on the purchase.
To exercise this right, the following 4 things must be true:
1. The purchase must have been made in your home state or within 100 miles of your current mailing address.
2. The purchase price must be more than $50.
3. You must have used your credit card for the purchase. Purchases made with cash advances from an ATM or with a check that is drawn upon your credit card do not qualify for these protections.
4. You must not yet have fully paid for the purchase.
If all of the criteria are met, you should contact your credit card company in writing.
Author Resource:-
http://www.hogan-scarpes.org##Hogan Outlet Nathan Randall, editor, Daily Dollar Newsletter provides free daily advice on money matters plus coupons and discount codes. FYI...you can now access the Daily Dollar Newsletter via iTunes podcast, YouTube video, and on Facebook and Twitter too.
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