Reviewing Account Statements and Other Mailings from Lenders

Closely review your account statements and other mailings from your lenders. Check your statements as soon as they arrive to look for errors, unauthorized withdrawals and other matters you might want to question or challenge. The sooner a problem is detected, the easier it is to correct. And if you don't report an error within prescribed time limits, you may not be covered by some federal consumer protection rules. Also, don't assume that literature inside a loan statement or credit card bill is junk mail. It could be your only notice of new fees, an increase in the interest rate, or other significant changes. If you don't monitor these mailings, you could pay more for banking services and not even realize it.