Credit Tips: Rights and Options with Credit Card Company

Posted On: January 1, 2006

Author: Wendy
Posted: Wed Jul 07, 2004 8:57 pm
Post subject: Rights and Options with Credit Card Company
2/11/2002 4:55 pm CDT

Hi! I am being hounded by a credit card company, and I’m wondering what my rights/options are. I’ve contacted a lawyer and was told they can’t do anything until my credit report is affected. Here’s a quick summary: Had an 18-month no-interest payment plan on a credit card. One of the bills arrived in my mailbox on 3/14, when it was due on 3/12 (arbitrary dates). I immediately called the company, only to be told *I* was responsible for knowing when my bills were due, and they charged me a late fee of $25. I didn’t feel it was fair, so when I paid off the balance in full, I left off the $25 and told them to close my account. I also wrote a letter disputing the amount to their billing department. They seem to have ignored my letter, adding another late fee (even though the account was closed) as well as finance charges. Yep, you guessed it — they added the 18 months’ worth of finance charges, to the tune of some $650 or so. Their policy clearly states that they cannot charge fees on a disputed amount, and I wrote another letter explaining that. They claim they never got it, and they keep adding charges every month, although the late fees have stopped. They’ve also begun phoning me at work and (rudely) asking when I’m going to pay my balance (all $650+ of it) or they’re going to report me. I FAXed the letter again, but I’m wondering if I should be worried about this. They are obviously in the wrong, and I have the documentation to prove it, but I also don’t want this on my credit report. I’m planning on needing a loan later this year, and I don’t want this to hold me up. Other than this, my credit record is impeccable. Should I be worried about this? Any legal agencies to contact? Any advice/info??? I’m in the process of reading the Fair Debt Collection Practices Act, but I wanted some quick/easy info, too. Thanks! -Wendy

Author: mouse
Posted: Wed Jul 07, 2004 8:58 pm
Post subject: Rights and Options with Credit Card Company

2/11/2002 7:09 pm CDT

Fax them again with “FINAL NOTICE TO CREDIT THE $650.00+ OR THE NEXT STEP IS COURT”

I need the name of the office manager, credit manager, vice president, president, and c.e.o. for the paperwork for SMALL CLAIMS COURT.

Author: Ira Stoller
Posted: Wed Jul 07, 2004 8:59 pm
Post subject: Rights and Options with Credit Card Company

2/11/2002 7:46 pm CDT

Oh yeah, Mouse, that’ll convince them! Wow, after receiving a fax like that the president of the bank will probably call her personally and ask her to pretty please not take them to court. He’ll probably be in tears and shaking in his shoes when he makes the call. From laughter mabe.

What is your suggested fax supposed to accomplish? Anger & empty threats will get her nowhere, and if it did go to court, they have more lawyers than she does. Conservatively the cost of such an action could cost her upwards of $2,500.00 in legal fees, even if she wins, which is very doubtful.

Get real, will you?