Rosenberg, Musso & Weiner, L.L.P., located in Brooklyn, New York
Bankruptcy is complex and is changing, the following will provide you with some frequently asked questions on the topic of bankruptcy, but if you have further questions, we can help. Feel free to contact us with any specific question you may have on how bankruptcy could help you get a fresh start.
My checking account and credit card are from the same bank; can the bank take money out of my checking account to cover my missed credit card payments?
My checking account and credit card are from the same bank; can the bank take money out of my checking account to cover my missed credit card payments?
No. A bank that takes money out of a deposit account to cover a missed credit card payment violates the federal Truth in Lending Act. You can sue for damages -- the amount taken out of your account and any other damages you suffer, such as lost interest or bounced check fees.
My wallet was stolen. Will I have to pay the charges the thief made using my credit cards?
No. Federal law limits your liability for unauthorized charges made on your credit or charge card after it has been lost or stolen. If you notify the card issuer within a reasonable time after you discover the loss or theft -- usually 30 days -- you're not responsible for any charges made after the notification, and are liable only for the first $50 for charges made before you notified the card issuer. Rarely will a card issuer even charge you the $50.
I purchased an item using my credit card and it fell apart. Can I refuse to pay?
Under federal law, you must first attempt in good faith to resolve the dispute with the merchant. If that fails, you can withhold payment only if the purchase was for more than $50 and was made within the state you live in or within 100 miles of your home. This limitation applies only if you used a card not issued by the seller, such as a MasterCard. There is no $50, 100-mile or in-state limitation if you use the seller's card, such as your Sears card.
The 100-mile limitation is easy to calculate when purchases are made in person. But if you order through the mail or over the telephone, the law is unclear as to where the purchase took place. You can claim that the purchase was made in the state in which you live (even if the catalogue company is on the other side of the country) because you placed the order. You have to hope the seller doesn't fight you.
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Contact a bankruptcy attorney at Rosenberg, Musso & Weiner, L.L.P., located in Brooklyn, New York. You can Call Our Office at (718) 530-0210 or 1-866-402-8476 to set up an initial consultation so you can find out what we can do for you. You can also choose to fill out our online contact form in order to give our bankruptcy lawyer more information about your individual finances.
