Some people think that late payments are okay since they are actually paying their bills. Even so, these people do not realize that every late payments made are noted on their accounts. Each adjustment that requires a good payment history would be denied or disapproved because of these late payments. Habitual late payments are also recorded in your credit report and you probably know by now how important it is to have a clean credit history. Aside from the easy approval, you will also enjoy privileges of having higher credit limits as well as lower interest rates.
To make matters worse, you will be charged with late payment penalties that can be quite considerable if you do not stop doing this every month. Literally, you are shelling out money for late payments that are avoidable in the first place. If you are having difficulties avoiding them, here are some helpful tips.
Work out a manageable schedule where you can sit down and tackle all bills payment. You should make sure that there are no distractions in order for you to concentrate, payment reminder calculate and remember all financial obligations.
List down all your payment dues and try to set up reminders at least three days in advance. You can use your computer, cell phone or handheld devices as your personal digital reminder so that you will never have to make late payments.
Create a checklist every first day of the month which you can refer to easily. This checklist will, of course, display different amounts for each month.
Enroll in auto-debit facilities offered by your local bank or Credit Card Company. Your bill will be automatically paid at the same day each month and you will be charged accordingly. This is probably the most hassle- fee method of making sure you do not make any more late payments.
Consolidate all your records and make sure that you receive all bills each month so that you do not miss payment, if your creditor failed to send you one, you should report it immediately so that you will not be charged with any late payment fees.
Late payments are avoidable as long as you step up to the responsibility of paying your bills on time. If you really have trouble doing so, ask for help. You ca always ask a friend to teach you how to organize your finances as well as make sure that you have enough money to pay everything on time. Always remember to prioritize bill payments since it will be more inconvenient if you receive a low credit score because of these late payments.