Credit Card Disputes And Billing Errors
Below is a MRR and PLR article in category Finance -> subcategory Credit.
Credit Card Disputes and Billing Errors
Understanding Billing Errors
Billing errors can occur in several ways, such as:
- Unauthorized purchases.
- Charges for goods or services not received or refused.
- Uncredited payments.
- Mathematical errors on your bill.
- Charges you don't recall; you can request proof of purchase.
Correcting Billing Errors
You have 60 days from the date of the statement containing the error to contact your credit card company. Here's how:
1. Write a Formal Letter: Address it to the billing inquiries address on your statement. Include your name, account number, and details of the error.
2. Request Proof: If needed, ask for evidence of the charge.
3. Send via Certified Mail: Use return receipt requested for proof of delivery.
Payment of Disputed Amounts
You don’t have to pay the disputed amount or related finance charges during the investigation. Ensure you pay remaining, undisputed charges.
Responsibilities of the Credit Card Company
- Acknowledgment: They must confirm receipt of your letter within 30 days.
- Investigation: Within 90 days, or two billing cycles, they need to investigate and correct the mistake or explain why the charges are accurate.
- Provide Proof: If requested, they must supply evidence of purchase.
Failure to follow these steps means the company cannot charge you interest on the disputed amount, and they can't close your account just because you filed a dispute.
If Errors Aren’t Corrected
If the error isn’t resolved to your satisfaction, you can explore filing a claim under "Claims and Defenses" for defective or undelivered goods or services.
Possible Actions by the Credit Card Company
If you refuse to pay:
- They may engage in regular collection activities, such as involving a collection agency or suing you.
- If contacted by a collection agency, send a letter explaining your position. Request they cease contact. Send this letter via certified mail, and keep a copy.
- If sued, seek legal help. You can present your case in court.
Reporting to Credit Agencies
The credit card company can only report to a credit agency if:
- You legitimately owe the amount.
- They win a court case against you.
By understanding and following these steps, you can safeguard yourself against incorrect charges and protect your credit standing.
You can find the original non-AI version of this article here: Credit Card Disputes And Billing Errors.
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