Who to Complain To
Having a problem with a credit card company or other financial institution can be frustrating enough, but when you feel as though a law is actually being broken in the way you’re being treated, the experience can go beyond frustrating and quickly evolve into maddening.
What are you supposed to do when you feel as though your financial is treating you unfairly? It’s one thing if you’re mad that your bank won’t increase the spending limit on your credit card, but it’s another thing if you think that your financial institution is doing something illegal like denying you credit based on something not pertaining to your creditworthiness or calling your workplace to collect a debt after you have formally requested that you don’t receive collection phone calls at that location. Laws are in place to protect you when it comes to financial matters, and when these laws are broken you have every right to seek out assistance from organizations designed to help in situations like these.
If a law hasn’t been broken, but you still have something to be upset about, there are consumer groups who will listen to your story. Suppose you receive horrible customer service from your insurer or you get slapped with huge fees from your credit card company. These are the types of things that can be brought to the attention of organizations like the Better Business Bureau or any of the many websites designed to allow consumers the opportunity to vent frustrations with companies that are frustrating to deal with.
On the other hand, if your financial institution is doing something that is against the law -and you should know that there is no shortage of laws designed to protect consumers when dealing with a financial institution- then there are agencies that are poised to protect you and make the financial institution stop doing illegal things. For example, The Federal Trade Commission not only provides consumers with plenty of information regarding illegal practices from financial institutions (including collection agencies attempting to collect a delinquent debt), but the FTC also provides consumers with the avenues by which to file official complaints against companies that are acting illegally.
You can also elect to sue a company that treats you in an illegal way, but keep in mind that this can be a time consuming a costly endeavor.
If a financial institution is treating you unfairly, complain to the organizations that will ensure other consumers steer clear of the financial institution. On the other hand, if you financial institution is treating you in an illegal way, then you need to let the FTC know so the offending financial institution can be stopped from acting illegally.
