Never Forget a Payment Again
Missing payments can hurt your credit score substantially— especially for repeat offenders. As a result, you may find it difficult to finance a vehicle, mortgage a home, or even open a line-of-credit. Regardless how hectic your week becomes, there are a few simple tricks to ensure timely payments for all monthly bills.
Organize Your Mail
As bills come in, file them in one of two categories — the beginning or the end of the month. Next, mark down these two categories in your daily planner, cloud calendar, or smartphone. Set-up notifications a few days prior, giving you ample time to process payments. By developing such a routine, paying your bills will become habit. As well, any straggling debts avoid the risk of remaining outstanding for more than two weeks.
Automate Your Payments
The above method works best for irregular bills — those that do not have the same value month-to-month. For cell contracts and rent, however, it may be wise to set-up automatic billing. With a credit card number or draft, creditors may directly deduct payments from your account, saving you the trouble every month. Most online banking now offers this feature without charge, but some service providers still request a small fee for this convenience. Keep in mind that automated payments still require your attention: Verify all payments have been made every few weeks to prevent billing errors.
Inform Your Creditors
Should you run into trouble paying your bills, there are a few ways to mitigate the consequences. Firstly, pay all of the most important bills first — mortgage, utility, grocery, rent, child care, car, and so on. Next, notify your creditors: An honest approach to a difficult situation may earn you some leeway. You must prove, however, that all non-essential costs have been cut before requesting an exception.
For individuals negatively affected by late payments, there are ways to repair your credit score. Speak with us today at Trillium Auto Group to see how we can help. Through various financing plans, we can help you get back on your feet financially while taking care of your transportation needs.