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Author: girish101 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308782  
Subject: lost credit card Date: 10/31/1999 9:13 PM
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i think i am in serious trouble.....
three days ago i recieved one of my credit card statements. i was awestruck to find an amount of
$1500 on it. i reached for my wallet and saw my credit card missing-i have'nt used the card AT ALL since i got it on 21st sept. i immediately called the company only to find that the current amount was $3000-my credit card limit.
the first purcahse on the card is dated 9th october. i discovered that my card is lost only on the 28th. by that time the theif has ruined me completely.
they say they have forwarded my case to a fraud investigating agency.
i am a college student at SUNY binghamton. i am shit scared wondering what may happen next. i have lost my sleep thinking about the burden of $3000. i have no idea where or who to ask for help and advise. somebody....please tell me what to do.

girish.
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Author: matanzas Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18832 of 308782
Subject: Re: lost credit card Date: 10/31/1999 9:17 PM
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Rest at ease if I'm not mistaken your liability will only be $50.00. If you had discovered the theft immediately you would have had no liability.

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Author: girish101 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18833 of 308782
Subject: Re: lost credit card Date: 10/31/1999 9:36 PM
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thank you so much for your reply....
...but why dont the tell me this. i pleaded to them to know what my liability was- but the give me a cold reply saying that they cant say anything untill the fraud agency investigates and reports to them. they dont seem to reply to any of my questions...that scares me even more.






Author: matanzas Date: 10/31/99 9:17 PM Number: 18832
Rest at ease if I'm not mistaken your liability will only be $50.00. If you had discovered the theft immediately you would have had no
liability.

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Author: matanzas Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18834 of 308782
Subject: Re: lost credit card Date: 10/31/1999 9:51 PM
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The stores are supposed to screen the people using the card by veryifing the signature, etc. If you notice many store clerks don't bother. Rarely do they turn the card around to make sure the signature even matches. I've had my identity stolen and they tried to pull the same thing on me. They try to make you liable and keep you in the dark on your rights. Watch out because they may screw up your credit report also. It took us several years to clean up our report. What's funny is we found who did it and they walked away scot free. We also weren't considered victims the credit card companies and stores are and it would be up to them to press charges. They seem to keep quiet. What I've been told is they don't want people know how easy it is. Call your local authorities to find out your rights. Good luck and be prepared for a possible hassle.

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Author: johnmoni Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18835 of 308782
Subject: Re: lost credit card Date: 10/31/1999 10:52 PM
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"...but why dont the tell me this. i pleaded to them to know what my liability was- but the give me a cold reply saying that they cant say anything untill the fraud agency investigates and reports to them. they dont seem to reply to any of my questions...that scares me even more."

From the FTC Web Site:
http://www.ftc.gov/bcp/conline/pubs/credit/atmcard.htm

What To Do If They're Lost or Stolen June 1997

"Many people find it easy and convenient to use credit and ATM cards. The Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) offer procedures for you and businesses to use if your cards are lost or stolen."

"Credit Card Loss. If you report the loss before the cards are used, the FCBA says the card issuer cannot hold you responsible for any unauthorized charges. If a thief uses your cards before you report them missing, the most you will owe for unauthorized charges is $50 per card. This is true even if a thief uses your credit card at an ATM machine to access your credit card account."

"However, it's not enough simply to report your credit card loss. After the loss, review your billing statements carefully. If they show any unauthorized charges, send a letter to the card issuer describing each questionable charge. Again, tell the card issuer the date your card was lost or stolen and when you first reported it to them. Be sure to send the letter to the address provided for billing errors. Do not send it with a payment or to the address where you send your payments unless you are directed to do so."


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Author: LeeSc Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18843 of 308782
Subject: Re: lost credit card Date: 11/1/1999 7:53 AM
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<<i think i am in serious trouble.....three days ago i recieved one of my credit card statements. i was awestruck to find an amount of $1500 on it. i reached for my wallet and saw my credit card missing-i have'nt used the card AT ALL since i got it on 21st sept. i immediately called the company only to find that the current amount was $3000-my credit card limit.
the first purcahse on the card is dated 9th october. i discovered that my card is lost only on the 28th. by that time the theif has ruined me completely. they say they have forwarded my case to a fraud investigating agency.
i am a college student at SUNY binghamton. i am shit scared wondering what may happen next. i have lost my sleep thinking about the burden of $3000. i have no idea where or who to ask for help and advise. somebody....please tell me what to do.>>

In cases of credit card fraud, your liability is limited. As long as you report the loss...which you did...as soon as discovered, you should be OK.

Good luck...and I hope they catch the rat that stole your card,
Lee

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Author: JPLenny Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18881 of 308782
Subject: Re: lost credit card Date: 11/1/1999 4:14 PM
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i think i am in serious trouble.....
three days ago i recieved one of my credit card statements. i was awestruck to find an amount of
$1500 on it. i reached for my wallet and saw my credit card missing-i have'nt used the card AT ALL since i got it on 21st sept. i immediately called the company only to find that the current amount was $3000-my credit card limit.
the first purcahse on the card is dated 9th october. i discovered that my card is lost only on the 28th. by that time the theif has ruined me completely


Hi girish,

First off, calm down. Things are not as bad as you think. Belived me, I've been in the same situation as you. You are still OK as far as reporting goes, since you have 60 days to report "billing errors" to your credit card. You might be liable for $50.00, but sometimes a CC they will wave that.

Do a little research at http://www.ftc.gov/bcp/menu-credit.htm. This is the Federal Trade Commission web site dealing with credit. It has a ton of cood information and you will find what your "rights" are.

Make sure that you reported the card as lost to the CC company so no further chrages can be made.

The next thing you need to do is make a good folder and keep a copy of all conversations and corespondense with the CC company. Next, look on the your statement. There should be an address where you should write regarding billing error or inquiries. This is usally different than the address you mail your payment to Write a letter to this address detailing all the transactions that you did not make. Even though you spoke to the CC on the phone and they said they would "take care of it" Send this letter, since it protects a lot of your rights is fraud disputes. Send it registered with a return reciept and keep a copy of the letter in your file, along with the return receipt. Just calling the CC company and telling them that you have unauthorized charges does not protect your rights. You need to put it in writing.

Take a look at for more information. they even have a sample letter to write to the CC company

http://www.ftc.gov/bcp/conline/pubs/credit/fcb.htm

Keep copies of everything the CC card sends you and mail everything back with a return receipt.

Also take a look at the FTC site, I learned a lot of information there when I had to deal with a fraud case several months ago. The creditor must acknowledge your complaint in writing within 30 days after receiving it, unless the problem has been resolved. The creditor must resolve the dis- pute within two billing cycles(but not more than 90 days) after receiving your letter.

Last thing...good luck. I know what you are going through and it's not fun, but you will get through this. If you ahve any otehr questions, don't hestiate to ask.

Sincerely,

Lenny



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Author: TMF2Aruba Big funky green star, 20000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 18887 of 308782
Subject: Re: lost credit card Date: 11/1/1999 5:14 PM
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i think i am in serious trouble.....
three days ago i recieved one of my credit card statements....i discovered that my card is lost only on the 28th. by that time the theif has ruined me completely. they say they have forwarded my case to a fraud investigating agency.
i am a college student at SUNY binghamton.


Girish,

I'm sure you've already received this advice, but I'll add to them.

You've got nothing, NOTHING to be fearful of. Losing a card and having charges fraudulently made on it is not your responsibility.

It IS your responsibility to immediately report the card as stolen to the credit card company, and dispute all of the fraudulent charges. They will probably send you some form, but it needs to be noted with them right away, and the card needs to be cancelled.

Do that now, if you haven't already, and you'll receive a new replacement with a new number soon. It'll be fine.

By the way, you're not the first victim, and you won't be the last. I've been victimized in the same manner, and I speak from experience. : )

Hope this helps!

Tony
...but I still am...

Off2Aruba

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