Independent Dispute

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Facing a Financial Dispute? Here’s How to Solve It

Unfortunately, a financial dispute may deem as an unpleasant experience both to you and your lender. However, you can easily find your way out of this dispute by equipping yourself with proper knowledge on how to handle it professionally:

Head straight to the financial institution

Before anything else, you must head straight to the financial institution. Most of them have departments assigned to solve disputes. Once you call to the financial institution, you will be forwarded to their department. Then they will start to browse through your records and see what they can do for you.

Know all your rights

You have better chances of winning a financial dispute if you know all your rights. Once you invested your money to your lender or a credit union, they have full responsibility of taking care of it. They must not violate any of your following rights:

  • Access to the work history of the firm and the person that is handling your records and accounts;
  • To receive information regarding the risks and full obligation as the client once you start investing on time;
  • Access to all completed account agreements and contracts;
  • To receive a recommendation that would help sustain your financial needs and achieve your investment goals;
  • To receive account contracts that is 100% precise and accurate;
  • To completely understand the terms and conditions before investing;
  • To access your account anytime you want and;
  • To understand all the restrictions and limitations when it comes to accessing your account;

Never jump on a conclusion

Even if you lost the money, you should never jump to a conclusion while you are dealing with the financial dispute. Also, there is no law that would allow you to sue your financial advisor for the advice they have given. Before you invest your hard-earned money at the bank or a credit union, it is your responsibility to understand their terms and conditions. You should know the risks that you are taking.

You are only advised to file a complaint with your bank if you have been given a false representation. For instance, the financial advisor tricked you into investing and believing one thing that is not really true just to make you invest your money. Second is when the security of the firm is not suitable for any of your investment goals.

From then on, you can file an independent dispute complaint about your money. The bank has at least a month to write you a letter of acknowledgement and another 90 days to start the investigation of your case. When writing a letter or calling to them, always be polite. Even if the person on the other line is already yelling at you, do not forget to be calm and composed.

A plausible and effective independent dispute resolution can be achieved if you equip yourself with proper knowledge. Hence, consider the aforementioned tips above. It will help you protect your rights and money should your bank or credit union violated any of your rights as the consumer.