How to Effectively Resolve a Conflict with your Creditor
The relationship between consumers and creditors has been strained this past year. Between the poor economy, the new credit card legislation and what seems like forever-changing rules to the credit card game, tensions have run high and many credit card consumers are more than a bit confused about their credit card bill and the new changes that seem to be popping up out of nowhere.
If you have a concern with your credit card company, it is best to avoid contacting them in hopes of a screaming match. Yelling and complaining will get you nowhere fast, so it is important to prepare yourself and ask the right questions to your credit card dilemma.
The following steps will help you resolve a conflict with your creditor:
- Your first point of contact will no doubt be a customer service representative. Explain your issue and speak slowly, clearly and remain courteous. Keep all of the necessary information close at hand so that you can refer to a particular bill or transaction.
- Keep a pen and a piece of paper nearby, as well, so you can jot down appropriate notes. Remember to write down the time and date of your call; remember to also ask for the name of the representative.
- If you feel as if the customer service representative cannot handle your problem or if you feel as if you are simply getting nowhere with a resolution then you have the right to ask to speak to a supervisor. However, remain courteous during the entire phone call.
- If you get nowhere by calling the credit card company, make your case in writing. Include all of the information from your phone call(s) and send the letter certified mail so that you have proof that the credit card company received your letter. If you don’t receive a response from the creditor within a few weeks, you can follow up with a phone call or be prepared to take other actions.
- File a complaint with the Better Business Bureau, the National Credit Union Administration, the Federal Reserve or the Federal Deposit Insurance Corporation.
- Make sure you follow the above chain of command when attempting to resolve a conflict, as you may need this information if you need to take the issue further.
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