Five Tips Towards Paying Your Bills!

Bills, unfortunately, are a necessary commodity of life if we want to enjoy having a roof to live under, with hot water, heating and lighting. There is more to paying bills then simply writing a cheque and waiting for it to be cashed. By following these tips you can ensure you avoid any late fees and enable you to manage your bills adequately.

Prioritise your bills

Bills are essential and first priority payments if you wish to keep your utilities and telephone. Make your bills your first port-of-call when your wages go in to your account: see how much your bills are and set aside the necessary money to be able to pay them off when the time comes. Financial obligations should be met above all else.

Send your payments in early

It may sound obvious, but post takes a few days to arrive at its destination. If you send your payments in a week before the bill is due you afford yourself breathing space for the company to receive your payment. By sending your payment in a few days prior to the bill being required you run the risk of the company not receiving it in time which may result in late charges being registered to your account. To make your payment process even quicker write your account number on the cheque so the company knows which account to pay off.

If you can’t make the payment let them know!

If you’re struggling for finances and won’t be able to pay your bill contact the company before the due date and let them know! Burying your head in the sand and ignoring the situation is the worst thing you could do. By contacting the company and giving them notice you may be able to agree to a deferral of payment or a reduced payment until such a time when you are able to repay the outstanding balance and have your late fee waived. Make sure, however, that you keep to any agreement that you make as if you break it you may incur late fees, and lose your trust rating with the company harming your chances of any further arrangements or deals in the future.

Over or under charged? Contact the company

Although being given an incorrect bill will be the fault of the company it is you that needs to rectify it. Just as you would contact the company to make them aware of overcharging you in order to gain a refund you need to also make them aware if they haven’t charged you enough. Errors in their accounts will eventually come to light which means you may receive a backdated higher charge in the future. Avoid this situation by making sure you are always being billed the right amount.

Keep a record of your accounts

You may have sent off your payment but it normally takes the bank a few days to transfer money from one account to the other meaning your account may show more funds than there actually is. Make sure you are aware of how much money is in your account before you send off your payments and manually adjust your records yourself to avoid overspending before the essentials are paid. If you don’t you may find your cheques bouncing and late fees being placed on your account.

Tips on being approved for a payday loan

Payday loan lenders knows all about what payday loan companies are looking for in terms of a person’s application to ensure that they are only lending money to the right people. In this article we offer some tips for those who are looking to apply for a payday loan, be it with lender or a competitor to make your chances of approval higher.

Make sure you meet the eligibility criteria

Different payday loan companies have different criteria that they want their customers to reach in order for them to be approved for a loan. These criteria may be with regards to the age of the people they lend to; the amount of wages they are paid every month or their employment status. To avoid wasting valuable time and increase your chances of approval when you are short of funds and need a payday loan make sure you research the company before hand to realise what they are looking for in a client.

Be honest in your application

Payday companies are only looking to loan money to those who they can trust to repay the loan. A way of monitoring this trust is by you being completely honest on your application form. Claiming to be paid a higher amount of wages than you are, or having been an employee for a company for longer than you have can adversely affect your chances of receiving a loan – and in the worst case scenario can see you being blacklisted and prevented from gaining a loan in future. Just be honest and your chances of getting a loan will be much higher.

Be responsible – only apply for the amount you need

Being allowed to take out a larger amount of capital may be tempting but do please remember, you will have to pay back the loan, with interest, at the end of the month so make sure that if you only need a certain amount of money until your next payday that that is all you take. Otherwise you will be paying back at a higher rate of interest, which if taken to the extreme can lead to cycles of debt that people find themselves in when they start loaning out more than they need and are unable to afford the repayments. We do not want this to happen to you, we simply wish to help ease your financial worries until your next pay date.

If you can’t repay on time, let the lender know

Payday loans, by definition, are for those who have had an unexpected incident for which they need to pay but don’t have the funds available until they are next paid. This means that we are fully aware that some times people will not have the funds to repay their loan, which is why it was taken out in the first place! Any Lender is proud of its dedicated Collections team who are always available to help reach agreements with those who are unable to repay their loans. As long as you contact us and make us aware of your situation we will be able to reach an outcome that helps you. It is only when people bury their heads in the sand and avoid contact that problems arise, which can severely harm your hopes of being approved for a loan in the future.