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Three months ago, I did a credit union credit card balance transfer at 0% to pay down three student PLUS loans. In the payments, the account number and sequence number for the three loans were given. The student loan lender returned two of the payments because they want just the account number, not account number plus loan sequence number. The third payment was not returned and not credited to the account either. I notified the credit union of my dispute through their online message system two months ago. The credit union says the payment went through and that they contacted the student loan provider to investigate. The student loan provider states it can take 60 business days to answer such an inquiry. However, calling them myself, they state that there is no money to return because they never received any and they would have attached it to our account since the account number is at the beginning and that I should look to the credit union and not them.

Do rules regarding credit card purchases apply to balance transfers? How can I dispute this charge to protect myself here? The credit union refused to provide a provisional credit and said the student loan provider must return the money before they will do anything. How can I track where the money has gone? I just asked the credit union to provide copies of any cancelled checks, hopefully it was not electronic.

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I think you have to dispute with the Credit Union provider that the funds have not reached the account. Ask them for the details, even if electronic, they will have reference numbers. Also provide the Credit union your copy of the current loan account ... it would not reflect the credit.

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