Image this if you will, one day you receive your credit card statement in your mailbox and naturally you don’t assume anything out of the ordinary as you only used the card one time last month, which was to purchase your niece a birthday gift. No gigantic deal you believe, this will be paid off in full, and so you are taking the statement and sit down with your checkbook prepared to send it off. You open your statement and you find it full of purchases to places you have not even been to and know you didn’t make.

Are you mindful of your rights that you have when a fake purchase is formed on your credit card? Here we’re going to discuss fake charges, first of all, this implies charges that you, yourself did not make. This law, called the Fair Credit Billing Act, restricts the responsibility placed on you for charges you weren’t mindful of to only $50.

The very first thing that you must do is call the company and explain to them that those charges are now not yours and were not manufactured by you.

The company will then give you a particular set of instructions you must follow. In addition, take a while out to look over your other statements, make sure that there were no other unapproved charges made that you could have missed. Sometimes the reporting credit card business will most doubtless ask you to sign a statement confirming these charges were unapproved. It’s important that you desist from using this card whilst the charge dispute is in process.

After the charges are resolved and removed from your statement you must get a copy of your credit report, get one from each major bureau to make sure that the particular credit card record has been updated with them.

This entry was posted on Wednesday, December 17th, 2008 at 2:58 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.