Fair Credit Billing Act & Rights
The Fair Credit Billing Act is a consumer protection statute that gives consumer rights for instances in which they have a disagreement over their monthly credit card bill. This law provides coverage for:
- Being charged for merchandise that you never received
- Being charged twice for the same item or failing to have the charge credited back to your account
- Charges that do not have the correct amount or date
- Failing to send the bill to your current and correct address
- Mathematical errors
- Unauthorized charges
The Fair Credit Billing Act (FCBA) is applicable for “open end” accounts. Open end accounts pertain to credit cards and revolving charge accounts. This law does not provide coverage for installment contracts.
There is a certain procedure for disputes according to the FCBA that need to be followed to receive the protection the laws offers. If the procedure is followed, the creditor has to acknowledge your dispute in writing within 30 days.
Contact The Consumer Advocacy Center at 312-782-5808 and find out how we can help you.