If you have credit card debt there are certain rights you have as a consumer. Your rights are designed to help and protect you from unscrupulous practices of lenders.
Significance
If you have unsecured credit card debt a lender cannot repossess or foreclosure on any property when you fall past due. Credit cards are approved based on your signature and no collateral is pledged as security.
Time Frame
When the statute of limitations has passed, creditors have limited power when it comes to collecting on a credit card. A credit card company cannot win a judgment if you attend the trial at court and provide proof that the statute of limitations has passed. The statute of limitations will vary from state to state.
Payments
You are allowed to make the minimum payments according to the terms and agreements of the credit card company. If you choose, to you can make larger payments or pay off the balance at your discretion.
Disputes
As a consumer you can dispute charges on your credit card account that you did not make, or for merchandise not received, within 60 days of the statement on which the charges appear. You should send written correspondence to your credit card company. The letter should be sent certified.
Benefits
You are not required to make payments on the charges in dispute. If you have an outstanding balance other than disputed charges, you must make payments on that remaining balance.
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