Read More Don’t end up a victim of the multiple payment online purchase scam.
You will find that after transferring of the money, the seller then demands other payments for “duties” or delivery charges – and ultimately, you won’t get what you paid for. Check around for more information regarding any new vendors before you hit the purchase button.
Credit reporting agencies are also required to disclose the sources of any incorrect information and provide you with a list of who has received a copy of the report that includes the incorrect information.
Once these mistakes are corrected, the agency must re-issue your corrected credit report to any lenders who received your credit report within the last six months and to any employers who received your credit report within the last two years. If you don’t, your creditors can turn over unpaid debts to a debt collector. Here is a rundown of what debt collectors can and cannot do under the FDCPA: The FCBA requires card issuers to credit your payments promptly and to correct any mistakes on your credit card bill without damaging your credit score.
For example, creditors must consider a reliable form of public assistance, such as disability payments, in the same way they would any other type of income.
The Fair Credit Reporting Act (FCRA) protects your right to privacy when it comes to credit reports, and provides the means to correct any errors in these reports.
The law also allows you to dispute any billing errors and to withhold payment for damaged goods purchased using a credit card.
The CARD Act, passed in 2009, has a number of consumer protection provisions.
For example, the law prevents credit card issuers from increasing your interest rate charged on existing balances and requires these lenders to provide 45 days notice before changing the terms of a card, such as increasing the interest rate charged on new transactions.
Card companies must also mail or deliver your bill at least 21 days before the payment is due and your due date for that payment must be the same date each month.
The law also limits your liability to if your credit card lost, stolen, or used without your authorization.