The invoice was marked “paid” when your customer paid the balance by credit card. Why then, six months later, are you asking your NY collection attorney: why the amount of the payment is being reversed by the credit card company? What dispute? The customer was satisfied with the goods and services and paid in full. Why now, after six months, and without warning, did they file a dispute?
Some of the credit card companies will have the monies immediately withdrawn from the vendor’s bank account upon the mere filing of a customer dispute. The monies are held by the card company pending a resolution of the claim. Other companies will not withdraw the monies from your account until a final determination of the disputed claim is made.
The time frame to dispute charges varies depending upon the type of credit card used to make payment and can range between 2 and 18 months; i.e., Visa and Discover is 12 months, MasterCard is 18 months, and American Express is 2 months (however if there is a bona fide dispute, Amex will extend the period past six months).
Filing a dispute is relatively easy regardless of the credit card company. Winning the dispute is similar to winning a Court case. The party that has the best documentation to support their position within will claim victory and win the money.
The best defense against losing payments as a result of a credit card dispute is having a complete credit and billing file. In addition to signed credit card authorizations to support all credit card charges, your NY collection attorney would recommend you have signed contracts, signed purchase orders, signed change orders, signed delivery tickets, and sign offs at a job site for work performed (clearly listed on the document).
The better you document the transaction, the more likely you will prevail and win the dispute! Call this NY collection attorney and learn how to protect yourself.
