Monthly Statement Overview

Terms and Conditions

The accounts not paid by the statement due date will be past due and will be applicable to a FINANCE CHARGE on the statement balance. The FINANCE CHARGE will be 1.65% per month (ANNUAL PERCENTAGE RATE of 19.8%) on the unpaid balance, or maximum allowed by law. Minimum charge of $0.50.

In Care of Errors on Inquires About Your Bill

Send your inquiry in writing so that the creditor receives it with 60 days after the bill was mailed to you. Your written inquiry must include:

• Your name and account number (if any);
• A description of the error and why (to the extent you can explain) you believe it is an error; and
• The dollar amount of the suspected error.

If you have authorized your creditor to automatically pay your bill from your checking or savings account, you can stop or reserve the payment on any amount you think is wrong by mailing your notice so that the creditor receives it within 16 days after the bill was sent to you.

You remain obligated to pay the parts of your bill not in dispute, but you do not have to pay any amount in dispute during the time the creditor is resolving the dispute. During that same time, the creditor may not take any action to collect disputed amounts or report disputed amounts as delinquent.

If you have a problem with a property or services purchased with a credit card, you may have the right not to pay the remaining amount due on them if you first try in good faith to return them or give the merchant a chance to correct the problem. These are two limitations on this right

• You must have bought them in your home state or, if not within your home state, within 100 miles of your current mailing address; and
• The purchase price must have been made more than $50.

However, these limitations do not apply if the merchant is owned or operated by the creditor, or if the creditor mailed you the advertisements for the property or services.

This is a summary of your rights under the Federal Fait Credit Billing Act.

Reading Your Statement

A new statement format has recently been designed using a statement with running balances and discounts. The document below explains the basic body of the new statement format.

Heart of Iowa Cooperative Statement Format Adobe Acrobat Document