On Your Own; Your Legal Right @ Eighteen On Your Own formatted final version | Page 18

A debt collector:
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cannot call you at inconvenient times, such as before 8 AM or after
9 PM, or call repeatedly to harass you
cannot use or threaten to use violence or other criminal means
cannot tell anyone other than your spouse about the debt
cannot call you at work, if you tell them not to do so.
Credit Cards
If you don’t have credit cards now, you probably will soon. Credit cards
enable you to buy goods or services on credit, for which you will be
charged interest monthly on those purchases. There are store cards and
bank cards from local or national entities, with varying terms and uses.
Again, review the annual fees, if any, finance charges, APR, and terms of a
credit card agreement you are considering so that you can compare your
options. With a credit card, you will receive monthly statements and most
cards will allow you to spread your payments over time. This process
comes with a cost, however, as if you do not pay off your entire bill every
month, you must pay an interest charge which is often as high as 21% or
more! Interest on purchases can grow very quickly if the entire balance is
not paid monthly so use your credit cards wisely and prudently. There are
a few other things you should know about their use.
If you lose them. If you lose your credit card, the law limits the maximum
amount you may have to pay for any unauthorized uses of your card to
$50. For example, if someone finds your lost card and runs up $300 worth
of charges, you are only responsible for $50. If you immediately notify the
bank or company issuing the card that it was lost, you will not be
responsible for any charges that are made with your card after that point.
It’s always a good idea, therefore, to keep handy your card numbers and
the phone numbers of the issuers, so you can immediately notify them if
your cards are lost or stolen. One way to do this is to make a photocopy of
your credit cards and keep it in a safe place besides your wallet.
Billing errors with credit cards. Under the federal Fair Credit Billing Act you
have the right to prompt correction or explanation of apparent billing
errors. The law applies to open-end credit accounts like credit cards,
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