The importance of your original agreement/contract

The importance of keeping your original agreement/contract

We get the packet of information in the mail, we pluck out the new credit card, call the number on the card and activate it, the paperwork ends up still in the envelope and eventually may end up in the garbage or in some place where you may never be able to locate it again.

Heads up! Read and keep this information in a safe place, you may need it later. Sure if you run into some problems later, you can call and try to get a copy of your original agreement, but what if you can’t. What if the company changed hands the way the often do. New company, new rules, that may not apply to you, because they are bound by your original agreement. If you don’t have this information, you will not be able prove it, if you can’t locate the agreement and the new company may not have the old agreements on hand, or if they do, will they be inclined to give you another copy, doubtful if it does not benefit them.

In this agreement is a lot of pertinent information to your individual account, information about rates, charges, fees, insurance and even your arbitration agreement.

I am getting ready to go through an arbitration with a third party collector and guess what silly me, I don’t have the original agreement, do you think the credit card company wants to assist a customer who defaulted an account on them? Probably not, I am still trying to get it though and it is my hope that the third party don’t have a copy either, since they have not honored my request for a copy of it.

So, don’t end up in the same boat as me, keep your original contracts and agreements until your statute of limitations runs out long after you have the card, if you end up in a situation where you are in a courtroom and don’t have a copy of the very document that will assist you in your fight.