by Dr. Jeffrey Lant
We ALL have them... and lots more than we like.
But what most folks DON'T have is an ongoing
strategy for paying them for maximum advantage.
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 want 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
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
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 them money!
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
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
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About The Author
Harvard-educated Dr. Jeffrey Lant is CEO of
Worldprofit, Inc., www.worldprofit.com <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! For details
on Dr. Lant's 18 best-selling business books,
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