The Fair Credit Billing Act applies if you are a creditor billing customers for goods or services. The Act requires creditors to acknowledge consumer billing complaints promptly in writing and to investigate billing errors. The Act prohibits creditors from taking actions that adversely affect the consumer's credit standing until the investigation is completed, and affords other consumer protections during disputes. The Act also requires that creditors promptly post payments to the consumer's account and either refund overpayments or credit them to the consumer's account.