21 Oct Credit Card Debt Disputes? How To Deal With Them.
As a consumer bankruptcy attorney, I hear some pretty bizarre things from my clients, and just when you thought that you have heard it all, something new comes flying at you.
Recently, I had a client who had a dispute with a seller of defective merchandise that was purchased over the internet. Luckily, they made the purchase with a credit card.
Now, for those of you who have never read one of my blogs, I am not a proponent of credit cards at all.
As a matter of fact, the only thing that I like about credit cards is a consumer’s ability to sue them when the credit card company breaks the law.
But, here is one example where the consumer used his credit card to get his money back after a transaction gone wrong. To dispute a transaction, the consumer is facing an uphill battle and may as well have gone to law school. But, I am going to give you the nutshell version here and save you hundreds of thousands of dollars in law school tuition.
Disputes between buyers and sellers happen all the time. Usually, the buyer can deal directly with a seller and receive the satisfaction he or she is after. E-Bay has a rather fascinating feature called Feedback, which raises customer service levels to new heights in my opinion. Negative feedback for a seller is one of the worst things that you can receive, and may be the death knell on your E-Bay sales career.
However, if you made the purchase with a credit card, you may very well have an added layer of protection which you can rely on when problems arise.
It is important to know your credit card dispute policy. If you have a Visa, Mastercard, American Express or Discover, it would be worth the time to find out what the dispute policy is for your particular card.
Once you track down the dispute process, it is very important to read it and understand it. You may even want to write down a summary of what you think the policy is, and keep it saved on your computer. Now, this may seem like a Herculean task if you have many credit cards, and it will definitely take some time. But, if you have one main credit card, you will be wise to take the 15 minutes or so to do it.
Once you have the policy and know what you need to do to dispute the matter, you are already in the catbird seat. Then, if a dispute ever arises like the one above, and you cannot get any satisfaction from the company who sold you the products, you can turn to your credit card company and immediately begin the dispute process.
Be Careful out there.
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