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Money Management

 
 

Be Careful With Automatic Bill Pay

 

There has been a recent rise in the popularity of using automatic bill payments. Although the system is convenient for FACSs, automatic bill payments can sometimes be difficult to stop.

Some companies are notorious for making it difficult to cancel automatically billed products and services. To end the service it is recommended to notify billing companies in writing via certified mail and request a returned receipt.

In the letter it is important to include the account number, the amount charged, how often the amount is charged, and state clearly that you want the service stopped immediately. Also send a return receipt letter to your credit card company stating that you have contacted the billing company in writing and ordered them to stop billing your credit card.

If the letters do not successfully solve the problem, the next step is to contact the Attorney General’s office in your state. The last resort is to contact is to contact the Federal Trade Commission (FTC). Go to www.ftc.gov to fill out a complaint form.

Source: Terminating Automatic Bills by The Dollar Stretcher by Gary Foreman