My question involves personal finance in the State of: Washington
I would like to know whether creditors have a legal obligation to notify debtors of delinquent accounts by mail?
I have a store credit account (Macy's Amex) and I had it set up for e-bill and automatic payment. At some point I received a new credit card with a new number. After that point the e-bills stopped showing up, presumably because the account number changed, but the e-bill service was continuing to show that the e-bill and auto payment are working. This is a technical issue: the e-bill should have ceased and they should automatically switch me to paper bill, but they did not. Since this is a card that I rarely use, I was under the assumption that I have no balance. However, we had one purchase on this account in December and I did not learn of it until now (April). I only found out about this because my credit monitoring service reported a change on my account. My concern is that for over 90 days the bank did not make any attempts to contact me about the past due balance. I found that my phone number on the account was incorrect, don't know why, because my numbers did not change since I opened the account, but in any case the mailing address is correct, and I did not receive anything in the mail either. I was receiving emails informing me that "my statement is available to view" but these emails did not indicate that the account is past due. Question is about what is the legal obligation of the bank to inform debtors about past due accounts? Any requirements to inform debtors by mail? I got the late fees reversed and paid the balance, but still need to straighten out the delinquencies reported to the credit bureaus. And if there is such a requirement and the bank did not follow it, how who can I report this to? This is pissing me off, it appears to be an attempt by the bank to rack up late fees and interest (though they reversed these in my case).
I would like to know whether creditors have a legal obligation to notify debtors of delinquent accounts by mail?
I have a store credit account (Macy's Amex) and I had it set up for e-bill and automatic payment. At some point I received a new credit card with a new number. After that point the e-bills stopped showing up, presumably because the account number changed, but the e-bill service was continuing to show that the e-bill and auto payment are working. This is a technical issue: the e-bill should have ceased and they should automatically switch me to paper bill, but they did not. Since this is a card that I rarely use, I was under the assumption that I have no balance. However, we had one purchase on this account in December and I did not learn of it until now (April). I only found out about this because my credit monitoring service reported a change on my account. My concern is that for over 90 days the bank did not make any attempts to contact me about the past due balance. I found that my phone number on the account was incorrect, don't know why, because my numbers did not change since I opened the account, but in any case the mailing address is correct, and I did not receive anything in the mail either. I was receiving emails informing me that "my statement is available to view" but these emails did not indicate that the account is past due. Question is about what is the legal obligation of the bank to inform debtors about past due accounts? Any requirements to inform debtors by mail? I got the late fees reversed and paid the balance, but still need to straighten out the delinquencies reported to the credit bureaus. And if there is such a requirement and the bank did not follow it, how who can I report this to? This is pissing me off, it appears to be an attempt by the bank to rack up late fees and interest (though they reversed these in my case).
Banking: Are Creditors Required to Notify About Delinquent Accounts by Mail
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