How to Fight Unauthorized Credit Card Debt
Unauthorized transactions on credit card accounts are a growing problem for millions of Internet users around the world. In fact, the Federal Trade Commission estimates that as many as 9 million Americans are victims of identity theft each year, according to its website. People can also fall prey to unauthorized transactions from loved ones using their cards or mistakes made by companies during a purchase. Disputing unauthorized transactions with your credit card company can take time and persistence, but many companies have a fairly simple process to follow when reporting this type of fraud.
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Instructions
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Review your credit card statements to determine when the unauthorized transactions occurred and the total amount that was unauthorized. Make notes of this information. Verify that you did not give someone permission to use your card for the transaction.
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Contact your credit card company by phone and notify them of the unauthorized transactions as soon as possible. The sooner you report the transaction, the less liable you are for it or any further unauthorized transactions. Ask that your account be closed and reopened under a new account number. Follow up with a letter stating your original account number, what the unauthorized transactions are and when you first noticed them. Request that an investigation be started on your behalf.
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Ask for a phone number or way to contact the business listed for the unauthorized transaction if it's not already printed on your statement. Contact the business and inform them that the transaction was not authorized and request that it be reversed. Ask that company's representative for any information that could help identify the person who completed the transaction, such as the country of origin for the transaction or the name on the shipping package if goods were purchased online. Make notes of your conversation, including the name and direct phone line of the person to whom you spoke.
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Follow up with your credit card company both in writing and by phone if you are able to determine any information identifying the suspect that completed the fraud. This will help your case if it progresses to a legal dispute with the credit card company.
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Contact the Federal Trade Commission or visit its website for a list of agencies responsible for enforcing the federal laws that govern credit card, debit card or ATM transactions if your lender refuses to assist you in the matter.
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Consider consulting an attorney. If you are being held liable for more than the maximum liability stated in your credit card agreement after you have reported the fraud, it might be necessary to consult with an attorney familiar with consumer protection or banking laws. Inform the credit card company if you acquire an attorney and request that all future communication be directed through your attorney.
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