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Stolen Wallet, Fraudulent Use, CC says I'm liable...Help!

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I recently had my wallet stolen. I promptly notified the CC companies on the same day of the theft and cancelled my CCs which were then reissued. I also filed a police report on the same day. During the five hours or so between the theft, subsequent discovery, and my notifying the CC companies, fraudulent use of my CCs occurred at both retail stores and ATM machines. Unfortunately, I carried a short list of PIN #s in my wallet.

One of the CCs, Aspire Visa just notified me that I am liable for the unauthorized and fraudulent use of my card at an ATM. The reasons stated for their determination:

* The pin number was sent to your home address

* The charges made on this account were through the ATM machine in which the pin number is required

* We are unable to determina any fraudulent activity at this time.

They are saying that I am "responsible for the payment of the balance in accordance to the terms of the CC agreement". (By the way, the CC agreement states that"you will not be liable for unauthorized use that occurs after you so notify us, and in any case, your liablility will not exceed $50". However, Aspire appears to asking me to pay the entire balance due to theft.

A little background follows. After initially notifying Aspire of the theft, I followed up by sending both by fax and via Certified Mail the following items: 1) cover letter that explained the nature of the loss/theft and report to police; 2) a copy of the police report; 3) a spreadsheet itemizing the fraudulent activity including date, time, amount, place, city, and state where the fraudulent use occurred; and 4) a signed and completed customer statement of disputed items.

This is a case where there is an ongoing investigation where I have provided the police with all information available to me. Fortunately, I wrote down the dates and times for each fraudulent attempt (some declined while others approved) to use my card that was provided by each of the CC reps that I spoke to on the day of the theft. Apparently, they have since told me that this information is only available for a short window while the transactions were being posted to the account.

In regard to the fraudulent use of my Aspire card at the bank ATM. I also called that bank's corporate HQ and found out the contact info for their ATM security chief which was also provided to the police. I have actually spoken to this guy and he's on record as saying he will get a copy of the tapes to the police upon their request.

So, down to the nitty gritty. How can I fight this determination from Aspire that I am responsible for the use of my card due to theft? What are my legal options? What's the legal basis for my dispute and complaint? Unfortunately, it appears that there is an arbitration clause in my CC agreement.

If this is not reversed, I'll file complaints with the AGs of my home state and their state (GA); FTC; FDIC; BBB; and others but I want action now!

Help wanted Please...

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As divemedic says, the FCBA is the grounds to remove liabilty.

I will tell you this now. GET A LAWYER. Aspire is a branded card by a company called CompuCredit. I have dealt with them before. They do not obey the law unless a judge tells them they have to. They completely ignored my IDTheft claims and FCBA claims for six months until I dragged them into court.

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Guest mikey

i hope you realize you made a BIG mistake having your pin #s in your wallet where your card was. not very smart. i hoppe you dont have your home address stamped on your house key in the even you should lose your set of keys. i am not trying to make you feel bad, but wow, what were you thinking?

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