How You Can Avoid Holiday Late Payments And Stay On Track
Late payments can cause a lot of havoc on your finances. Though missing one payment on accident isn’t a big deal, you want to find ways to avoid holiday late payments so your credit isn’t negatively hit. And if your credit score drops, you might not be approved for loans and get awarded higher interest rates in the future.
To avoid holiday late payments, try enrolling in automatic payments, writing down due dates in your personal calendar, and setting alarms and reminders for the payment. If you accidentally do miss a holiday payment, pay it back as soon as possible, talk to the lender, and get back on track as soon as possible.
3 Tips For Avoiding Holiday Late Payments
Basically, The goal is to do whatever you can to either avoid late payments or repair your finances when you do. If you’re worried about holiday late payments this year, here are three tips you can use to ensure you pay your payments on time.
1. Enroll In Automatic Payments
The best way to avoid holiday late payments is by enrolling in automatic payments. Automatic payments will take the money out of your approved account before the payment is due. That way, you don’t have to remember to pay your bill; the money is withdrawn automatically!
2. Write Due Dates In Your Personal Calendar
Don’t ever rely on your memory to remember when bills are due. Instead, write down all due dates in your personal calendar. Whether you typically use a physical calendar or the one on your phone, make sure to add your bill dates so that you are reminded.
Even if you enroll in automatic payments, writing down due dates can still be a great idea and a way to keep you organized. That way, you know when money will be taken out of your account and you’ll never be taken by surprise.
3. Set Alarms And Reminders
If you are particularly forgetful, set up alarms or reminders several days leading up to the due date. One of the best reminders is on your phone. Most smartphones today have an easy reminder app so that you get texted or notified anytime a bill is coming up.
What To Do If You’ve Already Missed A Holiday Payment
If you forget to make a holiday payment, don’t fret immediately. Occasional failure to avoid holiday late payments is almost always guaranteed, and it won’t negatively impact your credit report too badly. As long as you act quickly, you can get back on track. Here’s what you need to do if you’ve already missed a holiday payment.
Pay As Soon As Possible
As soon as you realize your mistake, pay it back as soon as you can. The longer you wait to pay, the more likely the holiday late payments will impact your credit score and rack-up fees. Holiday late payments of one day aren’t that big of a deal, but the same cannot be said about holiday payments that are three months late.
Talk To The Lender
If you missed the holiday payment by accident, you can always talk to your lender. Talking to your lender won’t guarantee an extension, but some lenders are willing to work with you if you made a mistake. Still, you will need to pay the bill quickly; but talking to the lender can at least give you a bit of wiggle room.
Do Holiday Late Payments Have You Feeling Like A Grinch?
It’s completely normal if you accidentally miss the occasional holiday payment from sheer forgetfulness. It’s another thing if you have recently undergone unexpected hardship and are unable to pay your bills as a result.
If you are unable to pay necessary expenses, you should not take the situation lying down or allow late payments to pile up. No matter your situation, everyone needs shelter, food, and clothes. Whether you have a major medical emergency or suddenly lost your job, there are options that can help you get the money you need, such as online title loans Arizona.
Online title loans from Southwest Title Loans can get you up to $15,000 when you use your vehicle’s lien-free title as collateral. All you will need is your driver’s license, a lien-free title, and a vehicle. The value of your vehicle is used to determine how much you can be loaned if you are approved.
The good thing about getting a title loan from us is we consider people of any credit type and we do not require proof of employment. Plus, we’ve made our process simple and convenient. Just start by filling out our online form and bringing the required items to one of our car title loan locations in Arizona to continue.
Get Back On Track With Your Finances Now
Never pay holiday late payments again by using the tips above to stay on track with your payment schedule. On the off chance you do need to pay holiday late payments, pay the payments as soon as you can and get back on track. If you cannot afford to pay for necessary bills and expenses, online title loans are an option. Apply for online title loans through Southwest Title Loans by filling out our online form today.
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.