Life can be expensive! It seems that almost anything you do costs money. Holidays, back-to-school purchases, tax season, weddings and vacations—they could all be fun or fulfilling, but they also usually result in you handing over some hard-earned cash.

When you are spending money, knowing your rights as a consumer is your first line of defense when spending money. We talked to one of our LegalShield provider lawyers, Wayne Hassay of Maguire Schneider Hassay, for him to share his knowledge for consumers like you to make full use of the laws that exist to keep you and your finances safe. Let’s hear directly from Wayne as he deep-dives into some consumer protection laws, their purposes, and the ways that you can benefit from them.

Why consumer protection laws are your secret weapons against financial setbacks

“Consumer protection laws safeguard you against financial problems like fraudulent charges, refund disputes, defective purchases, and other frustrating financial concerns. Many such laws exist, and that is part of the problem and the solution.” Wayne gave us this partial list to consider:

· Fair Credit Billing Act (FCBA)

· Electronic Fund Transfer Act (EFTA)

· Federal Trade Commission (FTC) Regulations

· State Consumer Protection Laws

· Magnuson-Moss Warranty Act

· Product Liability Laws

“Our legislators have implemented extensive measures to protect consumers, but the complexity of these laws and regulations can make them difficult to navigate. The effectiveness of these protections is significantly diminished when consumers are unaware of their rights. This underscores the critical importance of having access to knowledgeable legal counsel. Consulting with an attorney empowers consumers to understand their rights, effectively address challenges, and fully utilize the protections available to them.”

If you are in debt and wondering if help is available, it’s also essential for you to understand the debt collection laws that protect you and explain your responsibilities.

Do you know the protections that your credit card and retailer policies offer?

How to unlock the full potential of your credit card: Don’t miss the dispute time limit

Wayne goes on to say, “Credit cards can be a powerful tool for consumer protection, offering benefits such as fraud protection, chargeback rights, and purchase warranties that cash or debit cards often lack. They provide an added layer of security against fraudulent charges, allow disputes over defective products, and often come with extended warranties or rewards programs. However, their benefits can quickly turn into financial pitfalls if not used responsibly.

“Carrying a balance on a credit card can be devastating to families due to high interest rates, which can accumulate rapidly and lead to long-term financial hardship. Interest charges can significantly outweigh any benefits the card provides, trapping consumers in a cycle of debt.

“The best way to leverage a credit card’s advantages is to use it for all purchases only if you are confident in your ability to pay off the full balance each month. By doing so, you can enjoy the rewards and protections without incurring costly interest charges. However, if there is any uncertainty about paying off the balance in full, it may be wiser to limit credit card usage to essential purchases or emergencies to avoid the risk of accumulating debt.”

Regarding credit card benefits, Wayne gave us some basic actionable tips:

· Know your eligibility under the contract with the credit card company

· Understand coverages and limitations

· Monitor transactions and be proactive by filing a proper and timely claim

· Documentation is critical

Have you checked your credit card terms lately? You might be surprised by the benefits that you already have!

Retailer policies demystified: How credit card return protection and chargebacks can help

Wayne’s provides some suggestions: “The key to avoiding frustration with returns and refunds is to understand the retailer's policy before making a purchase. Many of us rarely anticipate a problem—after all, most transactions go smoothly. However, when things don’t go as expected, being informed can help prevent disappointment.”

Before you buy, take the time to familiarize yourself with key aspects of the retailer's return and refund policy, such as these helpful tips from Wayne:

· Return and refund time limits – Know how long you have to return an item and whether refunds are issued as cash, store credit, or the original payment method.

· Return condition requirements – Understand whether items must be unused, in original packaging, or accompanied by tags.

· Documentation requirements – Keep receipts, order confirmations, and any other proof of purchase.

· Credit card protection benefits – Many credit cards offer additional purchase protection, extended warranties, or even return assistance if the retailer refuses to cooperate.

Being proactive and informed empowers you to make purchases with confidence and handle returns smoothly when needed.

How much money could you save by fully understanding your rights as a consumer? Access to an experienced lawyer is critical so that you can ask questions and receive assistance with a variety of consumer protection issues. LegalShield’s provider law firms are here to give you the help you deserve at a price that you can afford. Navigate consumer matters with confidence with LegalShield provider lawyers ready to assist.

Put your financial savvy to the test

How much do you think you know about credit card and retailer protections after reading this blog post? Take this fun True/False quiz to test yourself!

· True or False? Credit cards offer some consumer protection benefits.

· True or False? You don’t need to understand a retailer’s policy before making a purchase.

· True or False? There is no need to pay off the full balance of your credit card every month.

· True or False? Consulting with an attorney empowers you to know your rights.

If you answered “True, false, false, true,” you answered correctly!

The final point is one of the most important: It is always beneficial to have the assistance of a knowledgeable lawyer as you navigate consumer protection issues. A LegalShield Membership gives you access to a provider law firm in your area, ready to help with these matters and more. You can schedule consultations with your provider lawyer, ask legal

questions, have your lawyer review paperwork and conduct phone calls on your behalf, and receive 24/7 help for covered legal emergencies. Navigate consumer issues with peace of mind as LegalShield lawyers work on your behalf!

Thank you to Wayne Hassay for lending his valuable insight to help us all understand consumer protection issues a bit better.

Take the next step! Reach out to an independent associate for more information or to enroll.

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Maguire Schneider Hassay is a LegalShield provider law firm serving LegalShield Members in Ohio. They have dedicated their practice to making the law—that is written for all—work for all. They are committed to making high-quality legal services accessible to more people than ever before. Their team of legal professionals is passionate about making a meaningful difference in the lives of everyone they serve. It’s why they chose the legal profession, and they haven’t forgotten that.

Pre-Paid Legal Services, Inc. (“PPLSI”) provides access to legal services offered by a network of provider law firms to PPLSI members through membership-based participation. Neither PPLSI nor its officers, employees or sales associates directly or indirectly provide legal services, representation, or advice. The information made available in this blog is meant to provide general information and is not intended to provide legal advice, render an opinion, or provide a recommendation as to a specific matter. The blog post is not a substitute for competent legal counsel from a licensed professional lawyer in the state or province where your legal issues exist, and you should seek legal counsel for your specific legal matter. Information contained in the blog may be provided by authors who could be a third-party paid contributor. All information by authors is accepted in good faith, however, PPLSI makes no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability, or completeness of such information.

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