Small charges on financial statements are serious because when they go unnoticed for months or years, they add up to significant amounts for individual consumers. More importantly, if this is the practice of a bank or business across the country, these charges can cause serious harm to bank customers everywhere. It is important for consumers to understand ways to stay vigilant and protect themselves from these unethical business practices. In this video, consumer protection attorney Curtis Miner explains the various ways consumers can spot these charges.
Lawyers care about the small charges because the small charges add up. They can add up for the individual consumer, who if they’re the victim of a small charge that is an inappropriate charge and that’s being made every month. There’s twelve months in a year and if it goes on over a series of years, small charges can add up. But more importantly, if this is a practice that the bank, that the mortgage company, that the cell phone company, that the cable company is doing to consumers around the country, then it can really add up. These types of improper charges, inappropriate charges can be big business. You have to look at your bill carefully. You have to understand what it is that you’re buying, what it is that you’re subscribing to, what it is that you’re paying for, and you have to be attentive to what is actually being put on your bill. Is it something that you actually subscribed for? Is it something that was disclosed to you? Is it something you were told that you were going to have to pay? You should always start with the customer service lines. Have a question about your bill. See if you can get an explanation for it. Do some research of your own. Look back at your paperwork. Read the bill carefully. Go to the website of the company and read the billing practices. Read the fine print. For more information, call Colson Hicks Eidson, 305-476-7400, or visit our website, Colson.com.