Apr
21
The Fair Credit Billing Act is important to a creditor who are billing customers for goods or services. The Act requires you to accept consumer billing complaints promptly in writing and to investigate billing errors submitted to you. The Act prohibits creditors from taking actions that adversely affect the consumer’s credit standing until the investigation is completed, and affords other consumer protections during disputes. The Act also requires that creditors promptly post payments to the consumer’s account, and either refund over payments or credit them to the consumer’s account.
(Source:FTC.gov)
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