When the billing statements for a credit card show unauthorized purchases or finance charges, learn how to get the entire account balance dismissed.
Promptly send a dispute letter to collection companies that pursue debt you do not owe. Don’t let the bank re-write the history of the case by sending you inaccurate statements that you accept without opposition.
If the debt is challenged properly, a credit card debt collector will often offer to waive the disputed portion of the debt in exchange for the consumer’s agreement to pay for the remaining credit charges in monthly payments.
In the modern era of financial hardship, debt relief of this kind can make all the difference in avoiding bankruptcy and restoring your credit.
Moreover, a legal defense to dismiss the entire debt can be made when the bank acted in bad faith or a commercially unreasonable manner, potentially entitling the account holder to recover monetary damages.
Federal and New York State consumer protection laws provide for statutory penalties up to $1,000 plus legal fees for a debt collection agency violation.
For example, if Barclays credit card fraud department failed to take action to prevent or reverse illicit purchases made with the account, the increased account balance will be factored against the consumer’s credit profile and could result in a diminished credit rating. A resulting unjustifiably low credit score can defame the consumer in the public record, nixing efforts to obtain financing in the future.
It is important to remain aware of the trade lines reported on your credit file, and to timely and accurately raise disputes to Barclays or other collectors of fraudulent charges claimed by a lender. We invite you to send us your credit and collection documents for a free case review.