South Carolina Consumer Protection: How to Handle Unauthorized Charges

In South Carolina, consumer protection laws are designed to safeguard residents from fraudulent practices, including unauthorized charges on credit cards and bank accounts. If you find yourself facing an unauthorized charge, it’s crucial to know the steps to take to protect your finances and resolve the issue efficiently.

First and foremost, examine your financial statements carefully to identify any unauthorized transactions. It’s important to act swiftly, as delays can make it more challenging to dispute a charge. Always document the transaction details, including the date, amount, and merchant name, as this information will be vital in your dispute process.

Once you’ve identified an unauthorized charge, contact your bank or credit card issuer immediately. Most financial institutions have specific procedures in place for reporting fraudulent charges. Provide them with all necessary information, including the transaction details and any supporting documentation. Federal law limits your liability for unauthorized credit card charges to $50, and many banks waive this entirely if reported promptly.

If your financial institution denies your claim or is unresponsive, you can escalate the issue. File a complaint with the South Carolina Attorney General’s Office. They have a dedicated Consumer Protection Division to help residents address issues related to unfair and deceptive practices. Additionally, consider reporting the unauthorized charge to the Federal Trade Commission (FTC) for further assistance.

Another important step is to consider placing a fraud alert on your credit report. This can help prevent identity theft by notifying creditors to take extra steps to verify your identity before opening new accounts in your name. You can do this by contacting one of the three major credit bureaus—Equifax, Experian, or TransUnion—who will then alert the others.

In some cases, a charge may stem from a subscription service or a trial offer that wasn't properly canceled. Reviewing your subscription services can help you identify recurring charges that you may have forgotten, allowing you to manage your finances better. Always ensure you read the terms of service thoroughly when signing up for any trial or subscription.

For ongoing prevention, consider enrolling in credit monitoring services. These services can alert you to any changes in your credit report, helping to identify unauthorized transactions quickly. Additionally, keeping your personal and financial information secure is essential—avoid sharing sensitive information over the phone or online unless you’re certain of the recipient's identity.

If you suspect that your identity has been stolen due to unauthorized charges, you may also want to consider filing a report with your local law enforcement agency. Documentation from law enforcement can be beneficial as you navigate resolving the fraudulent charges.

In summary, residents of South Carolina must remain vigilant in monitoring their financial statements. Knowing the correct steps to take can significantly mitigate the damages caused by unauthorized charges. By promptly reporting the issue, documenting everything, and utilizing the consumer protections available, you can navigate these challenging situations more effectively.