Thursday 17 May 2018

7 Tips - How To Rectify A Missed Monthly Payment

7 Tips - How To Rectify A Missed Monthly Payment
Hello and welcome back to yet another blog post for you. Here are my 7 tips on how you can sort out a missed monthly payment:

1. Don't bury your head in the sand. Immediately contact your creditor to own up about the missed payment and come to an agreed repayment plan. Be honest about what you can afford to repay and stick to it.
2. Set up automated payments for future payments.
3. Make a kind request to your creditor asking them to waive any default payment that may affect your credit score.
4. Put aside a set amount in your bank account that services your monthly expenses to act as a buffer in the event you miss any further payments.
5. Know what your regular monthly payments are, like the back of your hand.
6. Endeavour to set up automated payments to leave your bank account on or shortly after payday so that you can see exactly what disposable income is left over.
7. Budget, budget and budget.

How did you find these tips? If you found them very useful, be sure to click the share button so that others who may need it can benefit from it.

Did you miss our last post called 10 Ways To Stop The Spending Habit? Here's the link to the post. 

Until next time,
Much love.

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