Patience can be a virtue, but it also can cost you money when it comes to waiting for undelivered merchandise. Although the holidays are over, many consumers are still waiting for gifts they ordered by phone, mail or on the Internet.

In some cases, merchandise at legitimate companies may have been out of stock. Other companies just can’t keep up with business.

But every year, there also are scattered reports of fraud. A few years ago, I spoke to a New York man who ordered smoked fish from what he described as a very professional-looking Web site. When his Christmas gifts didn’t arrive, he called the phone number on the order confirmation he received by email.

But the line was disconnected–and the website was gone.

If you order something and it fails to arrive, you have to act quickly to protect yourself. The Federal Trade Commission requires sellers to ship items within the time promised or within 30 days if no shipping date is noted.

If a seller can’t ship the goods within the deadline, it has to notify you, give you a chance to cancel your order and send a full refund. If delivery has been longer than you expected, write to the company immediately and request a refund. You can always reorder when the item is in stock or order it from another company.

If you choose to cancel, the company is required to refund your money within seven business days for orders paid by cash, check or money order - or within one billing cycle for credit card orders.

If you used a credit card to pay for merchandise that has yet to be delivered, dispute the charge with your credit card issuer. You have to send the letter within 60 days of the first statement you receive that shows the charge. So don’t be too patient. File the dispute even if the questionable merchant claims it is processing a refund.

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