Question:

How to avoid late fees?

Answer:

To avoid late fees on a mortgage payment, on credit cards, a car loan or utilities bills, you will have to be aware what the respective company's rules are and abide by them. For example, you may have to find out how long it takes for the monthly mortgage payment to get to the lender and make sure you post it on time.

Avoiding late fees on credit card payments may require that you read the fine print of the contract. You may need to notice that your mortgage payment is due at 9 am on the 1st of the month. Failure to read your credit card contracts carefully may cause your credit card rate to rise abruptly just when you think you handled everything on time and no late fees are due.

Thankfully, incurring late fees within less than 30 days from your mortgage payment does not show up on your credit report. Make sure you don't make paying late fees a habit and try to avoid late payments as much as possible.

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