February 23, 2011
Insider Tips for Paying Bills By Dr. Jeffrey Lant
So today... smart-money recommendations for paying and managing BILLS!
1) Create a list of all your bills.
List who you pay, when the bills are due, and whether there are penalties for late payment. Managing your bills starts by having the facts at your fingertips.
2) Flush with cash?
If you are able to pay a bill, DON'T wait until the end (or beginning) of the
month to pay it. Instead, pay it the very day you receive it. Anticipate that
there will be one day when you can't pay early and prepare for it by ultra
prompt payment now. Show the person you owe, you are most responsible by paying
early whenever you can. You're building a good image for yourself -- and future
leverage and help when you need it.
3) Can't Pay ALL Your Bills? Decide which ones to defer.
It's essential that you KNOW which bills sock you with late payment penalties
and which ones don't. Late credit card payments, for instance, can be VERY
costly. Electric and gas bills ordinarily carry no penalties.
Note: when you can't pay any given bill is the time you'll be grateful you
established a history of paying early!
4) Severe Cash Problems? Seize The Initiative.
Most people hide when they owe money. This isn't smart. If you know you're
going to be unable to pay all of a bill in a timely fashion (it happens to
everyone), then seize the initiative. Pick up the phone, call the
person/business owed, and fess up.
Say when the bill is owed, how much you can pay now... and when you plan to pay
the balance. Put this in writing if necessary.
Be advised: don't expect the person you speak to to jump for joy when you
inform them payment will be late. However, there IS likely to be some comment
that recognizes you are being responsible, unlike most of the people who owe
5) Now Pay When You Say You'll Pay
Having informed your creditor about when you'll pay, now pay on the dot (or
before, if able). This is the moment you'll build credibility... which is
something you can certainly use in future!
6) Disputed Bill? Take IMMEDIATE Action!
Did you open a bill today that made you gasp for breath? Too much? Riddled with
error? Here's how to handle this situation:
DON'T pick up the phone right away and swear a blue streak at some hapless
employee. Instead, take a deep breath, sit down and write the facts, and
nothing but the facts.
Then call and find out the particulars of the person responsible for assisting
you. Get name, title, address, phone and fax.
Write a letter that contains FACTS ONLY, not one unwise line of the "you
people..." variety. That undercuts your case and credibility. Let this message
chill overnight, or until you are confident it is purely fact without
invective. Then mail (or better yet, fax) it. Ask for a confirmation of receipt.
Now let the matter sit until you hear from your creditor. This usually buys you
extra time. When they respond, see if they have admitted any of your
claims/arguments. If so, always thank them, while remaining firm on the rest.
Handle ALL points in writing. This gives you maximum control. Continue this
process until you've got as much as you think likely.
Note: was anyone particularly helpful in sorting this matter out? Send a
thank-you note with kind and lavish praise. After all, you may want their help
Harvard-educated Dr. Jeffrey Lant is CEO of Worldprofit, Inc.,
www.worldprofit.com where small and home-based businesses learn how to profit
online. Attend Dr. Lant's live webcast TODAY and receive 50,000 free guaranteed
visitors to the website of your choice! http://HomeBusinessReviews5000.com
Republished with author's permission by Robert King