Today I want to tell you about something that I wish I had known about before I was good with money. That’s actually too nice of a way to put it. In truth, I used to be just plain bad with money. I felt completely powerless. But I wasn’t. If you’re in that position now, behind on your bills, racking up late fees, and struggling just to get by, I want you to know that you’re not powerless. In fact, you have a lot more power than you think. In this post I’m going to tell you the secret to dealing with those late fees.
The Secret about Late Fees
Nobody wants to get stuck wasting money on late fees. And it turns out, you don’t have to.
Late fees are generally applied to your credit card accounts and other bills when you’re late in paying them. Most people just pay these fees when they get around to paying their bill.
Oftentimes, this means extending the amount of time it takes to pay off the total balance. And we know that the longer we carry a balance on our credit cards, the more interest fees we end up accumulating. And the more we end up paying in the long run.
But here’s the thing… All those late fees can be avoided.
How? Well, you really have 2 options.
Option 1: The Preemptive Strike
You can actually prevent late fees before they happen IF you know ahead of time that you’re going to be late on paying your bill. Anytime that you know you’re going to be late with a payment, it is a smart idea to call the company ahead of time and explain your situation.
Of course, it’ll depend on the company and their policies. But more often than not, they’re going to work with you. They want your money and as long as you’re willing to make arrangements to pay them in the near future, most companies will be happy to accommodate you.
Call the company as soon as you realize you’re going to be late with your payment that month. Make arrangements to pay when you will have the money. Depending on the company you’re working with, they may even change your due date to a time that is more convenient for you.
Option 2: The Eraser
If you’ve already missed a payment and incurred those late fees… don’t just give in and pay them! Call the company and explain your situation.
If you have a reason for being late, tell the customer service agent about it. Do they actually care about your problems? Maybe not. But their calls are recorded and they’re scored on their call time. So, it’s in their best interest to get you off the phone as soon possible. Oh, also, they can’t be rude to you or cut you off.
So, tell them your financial woes. Then, specifically ask if the late fees can be removed. Bold move? Sure. But what’s the worst that can happen? Maybe they say no. Chances are, they’re going to help you in some way.
If the customer service representative isn’t able to remove your late fees, go ahead and ask for a manager. They have more power and more incentive to make you a happy customer.
It never hurts to ask!
The common theme for both of these options is that it never hurts to ask! Ask nicely, be courteous to the people you’re speaking to, treat them like you need them to help you (because hello, you need them to help you!).
I hope these strategies help you skip those late fees! Try them out and let me know if they work for you.
Do you have any other late fee tips? Let us know in the comments below.
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