aspiration

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Member Since: October 2011

Most Helpful Contribution

Citi is going to ruin my credit or make me pay a grand for something i dont have

Nov 02, 2011
Helpful to 1 out of 1 people

Yeah,  unfortunately there are set time limits for resolving disputes and contesting charges. This is federal law, not mandated by individual credit card companies. I'm embarassed to say that I used to work indirectly dealing with these rules, laws like FACTA, FCRA, and other laws that define and protect consumers from fraud and identity theft. EFTA will also probably be of interest.

Here's a PDF file (also available in .mobi and .ebook for eReaders) — It's called the 2011 Consumer Action Handbook and is an invaluable resource to 1) Read through to know the can's and can'ts, what protections you have, and what actions you can take to fight back 2) Keep on hand for reference in the future. It has general, wide scope of knowledge concerning fraud in different industries (auto/term loan financing, home/mortgage, and general consumer credit advice for all situations.) Start by downloading that PDF file, it's free and it'll help educate you a bit more.

http://publications.usa.gov/USAPubs.php?PubID=5131

Another essential resource you should have bookmarked is the FTC's consumer rights page. This covers the gambit of topics in all areas, and actually tells you procedures of what to do down the list if this fails, then contact local BBB as scamps said. Those resources are awesome to have in one place, and you can get to them here, on the FTC's site:

http://www.ftc.gov/bcp/consumer.shtm

You essentially have two time periods where this can be handled. One, is immediately as the transaction goes on, I believe the bank would issue a CHARGEBACK where they basically reject the transaction against your account. Their bank has a limited time to dispute it and say "hey, I disagree" and the dispute goes one more round. If they don't respond or challenge the chargeback, then you win and the money goes back to your account. This all takes place pretty quickly... within a statement/billing period, maybe 45 days, if that even.

If the charge goes through and there's no chargeback and resolution there... then you basically are stuck with the charge; it's at that time you have to go to more pain in the butt resources to do this. There are third party mediators that will oversee a case... or if it makes it all the way to posting a derogatory or unpaid debt on your credit file, you can always go through that process of appealing a "fraudulent" mark on your file. Errors do happen, quit often, and the dispute and resolution process is well documented, I think those two links alone should get you headed in the right direction as you know where you stand in time and details better than anyone.

Let me know if those links/documentation are helpful to you. It's a wealth of great information, like I said, all in one spot. Hopefully you can get this taken care of, fraud sucks (I've had fraud on my card, random/stranger; I would never have purchased anything from the merchant they were using, and it was done from several states away... thankfully... Chase handled the dispute and I guess found out that it was indeed fraud, otherwise I'd be in your shoes... about $1,000 in the hole for someone else's good time. No sir... People start stealing my money and I'll fight them to the death with every resource I have — and thankfully, you have a lot of resources as a consumer to protect yourself, since unfortunately... fraud abounds these days and is an everyday thing for these companies to deal with. Your case won't be the first.

Just make sure you leave a paper trail. Keep copies of all receipts, documentations, copies of any emails or coorespondence between you and the merchant; and any dispute or challenges need to be sent via certified mail, so that you can prove that they received these dispute letters and failed to respond, or responded untimely, etc. Build your evidence up, it's a trial, and it's going to be your word against theirs — who is going to be better prepared? If they're sloppy and don't take the care to document and go to all this work... you may win just by the fact that you can prove these things, and they don't have anything to backup their claim of a bad debt. Good luck. Update this if you would, I'm sure others could benefit from your experience and steps that you take (and hopefully ultimately a positive outcome.)

Oh, and don't forget the http://www.fdic.gov and another good resource http://www.privacyrights.org

Hope that helps you out, my friend.

Activity (1 Total Contributions)

Citi is going to ruin my credit or make me pay a grand for something i dont have

Nov 02, 2011
Helpful to 1 out of 1 people

Yeah,  unfortunately there are set time limits for resolving disputes and contesting charges. This is federal law, not mandated by individual credit card companies. I'm embarassed to say that I used to work indirectly dealing with these rules, laws like FACTA, FCRA, and other laws that define and protect consumers from fraud and identity theft. EFTA will also probably be of interest.

Here's a PDF file (also available in .mobi and .ebook for eReaders) — It's called the 2011 Consumer Action Handbook and is an invaluable resource to 1) Read through to know the can's and can'ts, what protections you have, and what actions you can take to fight back 2) Keep on hand for reference in the future. It has general, wide scope of knowledge concerning fraud in different industries (auto/term loan financing, home/mortgage, and general consumer credit advice for all situations.) Start by downloading that PDF file, it's free and it'll help educate you a bit more.

http://publications.usa.gov/USAPubs.php?PubID=5131

Another essential resource you should have bookmarked is the FTC's consumer rights page. This covers the gambit of topics in all areas, and actually tells you procedures of what to do down the list if this fails, then contact local BBB as scamps said. Those resources are awesome to have in one place, and you can get to them here, on the FTC's site:

http://www.ftc.gov/bcp/consumer.shtm

You essentially have two time periods where this can be handled. One, is immediately as the transaction goes on, I believe the bank would issue a CHARGEBACK where they basically reject the transaction against your account. Their bank has a limited time to dispute it and say "hey, I disagree" and the dispute goes one more round. If they don't respond or challenge the chargeback, then you win and the money goes back to your account. This all takes place pretty quickly... within a statement/billing period, maybe 45 days, if that even.

If the charge goes through and there's no chargeback and resolution there... then you basically are stuck with the charge; it's at that time you have to go to more pain in the butt resources to do this. There are third party mediators that will oversee a case... or if it makes it all the way to posting a derogatory or unpaid debt on your credit file, you can always go through that process of appealing a "fraudulent" mark on your file. Errors do happen, quit often, and the dispute and resolution process is well documented, I think those two links alone should get you headed in the right direction as you know where you stand in time and details better than anyone.

Let me know if those links/documentation are helpful to you. It's a wealth of great information, like I said, all in one spot. Hopefully you can get this taken care of, fraud sucks (I've had fraud on my card, random/stranger; I would never have purchased anything from the merchant they were using, and it was done from several states away... thankfully... Chase handled the dispute and I guess found out that it was indeed fraud, otherwise I'd be in your shoes... about $1,000 in the hole for someone else's good time. No sir... People start stealing my money and I'll fight them to the death with every resource I have — and thankfully, you have a lot of resources as a consumer to protect yourself, since unfortunately... fraud abounds these days and is an everyday thing for these companies to deal with. Your case won't be the first.

Just make sure you leave a paper trail. Keep copies of all receipts, documentations, copies of any emails or coorespondence between you and the merchant; and any dispute or challenges need to be sent via certified mail, so that you can prove that they received these dispute letters and failed to respond, or responded untimely, etc. Build your evidence up, it's a trial, and it's going to be your word against theirs — who is going to be better prepared? If they're sloppy and don't take the care to document and go to all this work... you may win just by the fact that you can prove these things, and they don't have anything to backup their claim of a bad debt. Good luck. Update this if you would, I'm sure others could benefit from your experience and steps that you take (and hopefully ultimately a positive outcome.)

Oh, and don't forget the http://www.fdic.gov and another good resource http://www.privacyrights.org

Hope that helps you out, my friend.