Autopay Can Make Your Debt Problems Worse

Even before productivity advice became ubiquitous on the Internet, you could buy books at FedEx Office, which was then known as Kinko’s, about how to be more productive. The authors, who presumably wrote the books quickly, productive as they are, would advise you to automate the tasks that you could automate. These days, it is technically possible to automate almost anything; you can assign a chatbot the task of writing an anniversary message for your spouse if you are too lazy or too emotionally stunted to write it yourself. You don’t have to be a technological wizard to put your bills on autopay, though; sometimes it is as simple as checking a box on a paper form or clicking “yes” next to the autopay question on an online form when you sign up for a subscription service. If making a purchase can put you in debt, imagine the debts you can rack up with payments that recur automatically. If you are in worse shape financially now than you were when you signed up for autopay, contact a Philadelphia debt relief lawyer.

How an Impulse Purchase Can Become an Albatross Around Your Neck

Most of the ice cream cones sold at ice cream parlors are ice cream purchases, except the ones that people look forward to for weeks and then buy only when they meet a certain fitness or financial goal. As a result, one ice cream cone can only set you back so far financially. Setting aside the mess and tooth decay associated with ice cream, imagine how much worse it would be if Ben and Jerry’s charged you for an ice cream cone every month, whether you wanted one or not. You probably have monthly subscriptions that cost at least as much as an ice cream cone designed for consumption at the point of sale, and you can probably live without them just like the sweet-toothed chumps of the world can live without all that ice cream.

You Can Still Incur Late Fees for Bills That You Put on Autopay

If you ask people why they pay their bills on autopay, most of them will tell you that it is to ensure that they pay on time. This strategy works for bills that cost the same amount every month, but it can backfire when it comes to bills that vary from one month to another. For example, your electricity bill costs less in the fall and spring, when the temperatures are mild, than it does in the summer, when you run your air conditioning nonstop. If you have your bill set to withdraw the fair-weather amount automatically, then part of your bill will be late once the summer heats up, and if you don’t catch it quickly, you will incur late fees.

Contact CONSUMERLAWPA.com About Staying Out of Trouble With Autopay

A Philadelphia consumer law attorney can help if you are deeply in debt due, at least in part, to automatic recurring payments.  Contact CONSUMERLAWPA.com to set up a free, confidential consultation.

Source:

msn.com/en-us/money/personalfinance/6-bills-you-shouldn-t-put-on-autopay-according-to-financial-experts/ar-AA1vODPF?ocid=msedgntp&pc=ACTS&cvid=999997ea7d3a4e078f8be102f7205d33&ei=24