avoid late payment

5 Tips For Avoiding A Late Payment Fee

Late payment fees are the worst, especially when they come about as an accident. Making sure you stay on top of your payments is the only way that you can avoid these pricey punishments. To help you out, here is a list of the top five tips to avoid a late payment fee. Try out any one of these ideas to always stay on track of your payments and avoid late fees.

Use These 5 Tips To Avoid A Late Payment Fee

1. Enroll In Automatic Payments

The easiest way to avoid a late payment fee is to enroll in automatic payments. Automatic payments will automatically take the payment out of your account on the assigned day. That way, you don’t have to remember to make the payments yourself. The trick to this method is that you have to make sure you have enough money in your account on the assigned day.

If you don’t have enough money, the payment will not take, and you will be stuck in the same position as before. However, you can always set up automatic payments to withdraw from your account right after payday. That way, you know that there is enough money in your account, and you don’t have to worry about making the payments on your own.

2. Set Notifications

Another way to avoid a late payment fee is to set notifications. Setting notifications will remind you whenever payment day comes. There are many different notification styles you can select. Select the option that is most convenient for you. For example, many credit card companies and other lenders offer email notifications. The notification will go straight to your inbox.

There are also text message notifications. If you don’t want to rely on the lender, you can set notifications on your phone or write in your calendar instead. It’s a good idea to set notifications even if you enroll in automatic payments to ensure you remember what the automatic payments are for.

These notifications will give you time to ensure that money is in your bank account before the automatic payment day. Using these two methods together will almost guarantee you never miss a late payment again. This means you won’t find yourself in this financial struggle.

3. Pay Twice A Month

Instead of waiting until the due date to pay your bill, pay twice a month, once after every payday. By paying twice a month, you are covered even if you accidentally forget on the day the payment is due. This method can also help you pay off the bill faster since you are paying it twice a month, not just once.


help to avoid late payments


4. Call The Lender

If you use the three methods above, you should be able to avoid a late payment fee since you will pay the bills on time. However, accidents happen to the best of us. If you realize that you missed a payment completely on accident and have a good track record in the past, don’t hesitate to call the lender.

A lot of times, lenders will be willing to grant you an extension or forgo the fee, especially if you have consistently paid on time. All you have to do is ask and pay the payment as soon as you possibly can. This method doesn’t always work, but it certainly doesn’t hurt to ask.

5. Use An Installment Loan To Handle Emergencies Getting In Your Way

Sometimes, an emergency can happen and get in the way of making payments on time. If that sounds like the case for you, you can apply for signature installment loans. Installment loans are set amounts of money that you pay back routinely. Installment loans are named as such because you pay back the loan in set installments.

These set installments allow you to know exactly when the entire loan is paid back before you even agree to the loan. This knowledge makes the payback period more manageable than other loan types. If you are looking for an installment loan, consider us at Carolina Title Loans, Inc. to help you out. Our installment loans can get you up to $1,500.

You will need a driver’s license or state-issued ID, a checking account statement open in your name, and proof of income. Your most recent pay stub will work. To get started, all you need to do is visit our homepage. Fill out the inquiry form, but make sure you select an installment loan instead of a title loan.

As soon as you click submit, a representative will give you a call to set up an appointment at the nearest South Carolina installment loan location to have us assess your items and check your credit to determine if you qualify for approval. If you do, you could get the money on the same day or the next day.

Apply For An Installment Loan

Make sure you never get another late payment fee by always paying on time. You can make sure your payments are on time by following our simple five steps above. And if you do find that emergency expenses are getting in your way of making your payments, fill out the inquiry form on our homepage for an installment loan.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation. 

June Mckaig

June Mckaig writes articles on finance and budgeting, hoping to provide insight amidst the overwhelming crowds of information on the internet. She feels that with all this accessibility comes a lot of false data, and she would like to contribute astute, helpful input that she knows can help others. If you would like to learn more about June's research, read more here.