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February 16,2009

  • Protect Yourself from Flawed CC Dispute Law, Pt.1
      The Entertainer.

    An Albany, NY woman tried to do all the right things and still got stiffed. She made an Internet credit card purchase in good faith and thought that was the end of it. Then, to her dismay, another charge showed up on her credit card statement for almost $1,000 that she didn't recognize, from that same company. She immediately inquired of the charge. But, when she tried to reach the merchant, called "Charles Keath", she found she could never reach a human. She couldn't even leave a voice mail to get a call back. So, she immediately filed a dispute with her credit card issuer, WaMu.

    She was assured by WaMu that the dispute would be investigated and she would hear back from them within 90-days. So far, this is all in accordance with the federal protection law called the Fair Credit Billing Act. When a credit card consumer files a dispute with their credit card issuer, the dispute is to be investigated and the merchant is to be contacted for a resolve. The investigation is supposed to be completed within 90 days of the filing. During that time, the charge amount in question is to be held in limbo, not be payable and accrue no interest. If the inquiry result comes back negative then, the charge and it's back-interest will be considered legitimate and payable by the card holder.

    In the case here, however, this woman never heard back from WaMu after the 90-day period. So she called her credit card lender again. To her dismay, she was informed that her dispute had been dropped and that she was now liable for the full amount along with it's finance charges. She was informed that she had chosen the wrong category when filing the dispute. The 60-limit had passed and she was no longer allowed to pursue the dispute.

    Continued...
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