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Author: joelcorley Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311074  
Subject: Re: CC lifetime on internet subscriptions Date: 2/5/2003 5:24 PM
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You wrote, Anyway, even one-shot cards are not safe, because I used my card once to inscribe in a seminar (not a Fool seminar) and was charged for two incscriptions ! Then, after some mail-exchanges, the company confirmed their mistake and promised to reimburse the second inscription. One month later, instead of reimbursing they charged me a third time for the same amount !!!! With the company blaming the card-handling company, who was blaming the bank, it took several months to get the money back. And that was thanks to the support of my own employer ( a fairly big multinational) because the seminar was work-related. I don't want to know how long it would have taken to get my money back without the weight of my company behind me. No, I don't want to go through the hassle of trying to get reimbursements again.

Learn your rights. You have the right to dispute and have corrected any billing error on your credit card. The Fair Credit Billing Act of 1974 (FCBA) gives you this right. The credit card company must following the terms and investigational requirements of the FCBA or loose any right to collect.

What's more, you have 60 days from the date of the statement containing the error to dispute an item and once in dispute, the credit card company looses the right to take any further actions to collect on that debt until the dispute has been resolved.

To learn more about the FCBA read this publication at the FTC's website: http://www.ftc.gov/bcp/conline/pubs/credit/fcb.htm

In addition, you should use Google to research:
  o Fair Debt Collection Practices Act
o Fair Credit Reporting Act
o Truth in Lending Act -- Regulation Z

Thes consumer protection laws were enacted in the '70s and are designed to protect the average consumer from big credit card companies. They grant the average consumer a considerable amount of leverage to force credit card companies to act reasonably and to protect you from unreasonable or fraudulent merchants and thieves.

- Joel
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