Fair Credit Billing Act

The FCBA governs disputes between creditors and consumers regarding alleged billing errors in account statements. A billing error may something as significant as a charge that the consumer did not authorize, or something relatively minor such as an incorrect calculation. Other errors: failure to send statements as promised to the correct address, charges for undelivered goods or services, charges for goods or services that the consumer rejected, and any charge about which the consumer requests clarification or more information.

If an error is made, the consumer must send a written notice to the creditor's billing department noting the account number, the consumer's identity, and the specifics of the alleged error. This letter should be sent certified mail with a return receipt requested, as should all significant written communications to your creditors. After receipt, the creditor must conduct a reasonable investigation within two complete billing cycles (as defined by the account agreement) and notify the consumer of its findings and any action taken as a result of the investigation.

For More Information

• Text of the Fair Credit Billing Act
• FTC Summary of the FCBA
• Wikipedia Article: Fair Credit Billing Act

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