How The New Click-To-Cancel Rule Will Impact New Jersey

Do you have any unwanted subscriptions or memberships, where money is automatically withdrawn from your account and you can't figure out how to cancel them?

It could be that you bought a skin care product and didn't realize you were on a monthly subscription plan or maybe you thought it was a free trial, but it turns out you're being charged.

You call the company, but no one is there to help and you continue to get billed month after month.

Get our free mobile app

Sometimes you don't even realize what's going on until it's too late and you're out hundreds and hundreds of dollars.

Well, relief is apparently on the way!

Say Goodbye to Sneaky Subscription Fees

The new click-to-cancel rule, adopted by the Federal Trade Commission this week, will hopefully make it easier for you to cancel unwanted subscriptions.

Fox 5 New York reports, "Too often, businesses make people jump through endless hoops just to cancel a subscription," FTC Chair Lina Khan said in a statement. "The FTC’s rule will end these tricks and traps, saving Americans time and money. Nobody should be stuck paying for a service they no longer want."

The new rule will require businesses to disclose all information as to when the promotion will end, get your permission before charging you, and make it easier to cancel.

Read More: Hardware Chain Files For Bankruptcy: What It Means For Consumers And New Jersey Stores

On the flip side, there are some who don't like the new rule including the U.S. Chamber of Commerce saying, the regulations are "heavy-handed" and could cause prices to go up.

According to the report, the Federal Trade Commission gets about 70 complaints regarding this issue a day so it's happening to a lot of people.

The new rule will go into effect in 180 days.