Common use of YOUR RIGHTS AND OUR RESPONSIBILITIES Clause in Contracts

YOUR RIGHTS AND OUR RESPONSIBILITIES. AFTER WE RECEIVE YOUR WRITTEN NOTICE OF ERROR We must acknowledge your letter within 30 days, unless we have corrected the error by then. Within 90 days, we must either correct the error or explain why we believe the statement was correct. If you have authorized us to pay your credit card account automatically from a Credit Union 1 share account, you can stop payment on any amount you think is wrong. Your request must reach us at least three business days before the payment is scheduled to occur. We can ask you to confirm an oral request in writing within 14 days, and if you do not do so, your stop payment request will lapse. After we receive your letter, and if you have not yet paid the disputed amount, we cannot try to collect any amount you question, or report you as delinquent. We can continue to bill you for the amount you question, including Finance Charges, and we can apply any unpaid amount against your credit limit. You do not have to pay a questioned amount while we are investigating, but you are still obligated to pay the parts of your statement that are not in question. If we find that we made a mistake on your statement, you will not have to pay any Finance Charges related to any questioned amount. If we did not make a mistake, you may have to pay Finance Charges, and you will have to make up any missed payments on the questioned amount. In either case, we will send you a statement of the amount you owe and the date it is due. If you fail to pay the amount that we think you owe, we may report you as delinquent. However, if our explanation does not satisfy you and you write to us within 10 days telling us that you still refuse to pay, we must tell anyone to whom we report you that you have a question about your statement. We must also tell you the name of anyone to whom we reported you. We must tell anyone to whom we report you that the matter has been settled between us when it finally is. If we do not follow these rules, we cannot collect the first $50 of the questioned amount, even if your statement was correct.