What to Do If There's an Error on Your Debit or Credit Card Statement


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Errors on Your Credit Card Statement

Here's what to do if you find an error on your ATM, debit or credit card statement.

You should challenge an error on your credit card statement within 60 days or you may lose your right to challenge. A credit card company is require to acknowledge your letter of dispute within 30 days after they receive it. If a credit card company doesn't comply with these time limits they are required to pay you $50.00. If the credit card company sends you an explanation of the charge and you don't agree with it, you have ten days to send another letter.

NOTICE: The decision to file bankruptcy is a serious choice. Bankruptcy is not for everyone. It is a drastic remedy that can affect your credit for many years and will affect your ability to use the bankruptcy code at a future time when you may need it more. The majority of chapter 13 plans are never successfully completed and the funds paid do not cure the mortgage arrears or allow redemption of property. Upon filing a bankruptcy you may lose control of your property and you may not dismiss a bankruptcy proceeding without court approval once it is filed. The decision of when to file a bankruptcy is also crucial and dependent on your individual circumstances. Be sure to discuss the potential pitfalls of bankruptcy as well as its advantages with any professional you are considering.