Credit Billing Errors
At certain times of the year, you may find yourself
facing particularly large credit card bills. At those times
especially, the Federal Trade Commission (FTC) advises you
to review your billing statements with care.
Credit card billing errors do occur, but they are
simple to resolve if you know how to use the Fair Credit
Billing Act (FCBA). Under this law, you must send the
creditor a written notice about the problem to avoid paying
for any charges you dispute. Many consumers forfeit their
rights under this Act because they rely on calling the
company to correct a billing problem. You may call if you
wish, but phoning does not trigger the legal safeguards
provided under the FCBA.
To take full advantage of your rights under the law, this is what you need to do.
- Write to the bank, the financial institution, or
retailer who issued the card. Your letter must be
received within 60 days after the issuer mailed you the
first bill containing the error. In your letter
include: your name and account number; the date, type,
and dollar amount of the charge you are disputing; and
why you think there was a mistake.
- Be sure to send the letter to the special address
for billing inquiries, as designated by the card
issuer. You frequently can find the proper address on
your bill under a heading such as "send inquiries to."
- Do not put your letter in the same envelope as your
payment. To be sure the card issuer receives your
letter, you may wish to send it by certified mail.
If you follow the previous requirements, this is what the creditor is required to do.
- Acknowledge your letter in writing within 30 days
after it is received, unless the problem has been
resolved within that time.
- Conduct a reasonable investigation and, within no
more than 90 days, either explain why the bill is
correct or correct the error.
- Include documents showing that the charge was
correct, if the creditor states the bill is correct and
you asked for "proof" in your letter.
Under the FCBA, the card issuer cannot close your account just because you disputed a bill under the law.If you continue to have problems with the card issuer, you might wish to seek legal advice or contact your local consumer protection agency.
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