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Did You Pay With a Credit Card?

Have you ever made a purchase, ordered from a catalog, or paid for a service only to realize that the quality was misrepresented? There is a widely unknown regulation that protects you only if you paid with a credit card.

Federal Regulation Z of the Truth In Lending Act allows you to cancel charges for products or services that were misrepresented to you. You must object within 60 days of the time that the charges are posted to your account. This doesn’t mean that if you simply change your mind about a purchase you don’t have to pay for it.

To refute charges, you must write a letter to your credit card company specifically citing the regulation and act. Include a statement explaining how you were deceived, a copy of your statement and the date and dollar amount of the charges. Keep a copy of everything you send to the credit card company. You do not have to pay the amount you are disputing but you do have to pay the other charges on your bill.