NEW YORK (CNN/Money) - A new Web site designed to help people settle billing disputes with merchants went online Wednesday.

DisputeMyCharge.com, created by Glen Bolofsky, bills itself as a consumer advocate, but at a cost -- the site will keep half of any amount it wins in a dispute.

Bolofsky, a CPA and former comptroller for Carnegie Hall, is also the creator of parkingticket.com, launched in 2001, which helps people contest their parking tickets. He says that site has saved people about $100 million so far.

Once customers register and establish an account, they must pay half of the disputed amount -- up front -- to have the site fight on their behalf. If the site loses, the up front payment is refunded. But if the dispute is successful, customers keep the credit card company's refund and DisputeMyCharge.com keeps the client's initial payment.

Registered customers enter the amount of the disputed charge, the name of the merchant, and nature of the dispute. DisputeMyCharge.com takes over at that point, first issuing a customized "Demand Notification Letter" asking the merchant to refund the money.

"Convenience is the key thing for people today," Bolofsky said at a news conference on Wednesday.

If the merchant denies the initial request, the case escalates to an "Official Chargeback Notice." Pending a complete review by the credit card company, the disputed amount is removed from the customer's credit card statement. Once the review is complete, the customer is notified of the outcome by mail, according to the company.

For those with large dollar disputes, there is also the option of paying a $49.95 annual membership fee, which lets customers contest three charges a year. Or, customers may opt for the one-time "VIP" charge, a non-refundable $29.95 fee, even if the dispute is unsuccessful.

"We think most of the complaints will fall in the under $100 range," Bolofsky said, adding no dispute was too small as "a matter of principle."

DisputeMyCharge.com also provides links to consumer affair departments in every state, as well as to the Federal Trade Commission and to the Treasury Department to assist those who want to tackle disputes themselves.