Paying Your Bills/Pagando Sus Deudas

http://edis.ifas.ufl.edu/ ( Publisher's URL )
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Material Information

Title:
Paying Your Bills/Pagando Sus Deudas
Physical Description:
Fact Sheet
Creator:
Harrison, Mary N.
Torres, Nayda I.
Publisher:
University of Florida Cooperative Extension Service, Institute of Food and Agriculture Sciences, EDIS
Place of Publication:
Gainesville, Fla.
Publication Date:

Notes

Acquisition:
Collected for University of Florida's Institutional Repository by the UFIR Self-Submittal tool. Submitted by Melanie Mercer.
Publication Status:
Published
General Note:
"Publication date: July 2000. First published: January 1994. Revised: December 2005."
General Note:
"FCS 5047"

Record Information

Source Institution:
University of Florida Institutional Repository
Holding Location:
University of Florida
Rights Management:
All rights reserved by the submitter.
System ID:
IR00002599:00001


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FCS 5047 Paying Your Bills/Pagando Sus Deudas1 Mary N. Harrison and Nayda I. Torres2 1. This document is FCS 5047, one of a series of the Department of Family, Youth and Community Sciences, Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida. Publication date: July 2000. First published: January 1994. Revised: December 2005. Please visit the EDIS Web site at http://edis.ifas.ufl.edu 2. Mary N. Harrison, Professor, Consumer Education, and Nayda I. Torres, Professor, Family and Consumer Economics, Department of Family, Youth and Community Sciences, Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida, Gainesville, 32611. The Institute of Food and Agricultural Sciences (IFAS) is an Equal Opportunity Institution authorized to provide research, educational information and other services only to individuals and institutions that function with non-discrimination with respect to race, creed, color, religion, age, disability, sex, sexual orientation, marital status, national origin, political opinions or affiliations. U.S. Department of Agriculture, Cooperative Extension Service, University of Florida, IFAS, Florida A. & M. University Cooperative Extension Program, and Boards of County Commissioners Cooperating. Larry Arrington, Dean Paying Your Bills Pay your bills when they are due. It is important. Paying late hurts your credit rating. Paying bills slowly means credit will cost more. Credit becomes harder to get. Always mail your payments early enough for the creditor to get it by the due date. Due dates are printed on your bill. Payments must, by law, be recorded when it is received. Payments mailed, but not received by the due date, are late. Read your contract carefully. Learn what happens if you make a late payment or miss a payment. You may have to pay a late fee. Late fee amounts depend on the credit agreement. The kind of credit used affects the late fee amount too. Many credit cards charge $20 to $30 for a late fee. Other types of credit, the late charge may be more. Late house payments, for example, may be $65. Credit contracts must tell you if late fees are charged. Your contract will also tell you how much it will be.n Total unpaid balance of the debt comes due in some credit contracts. Missed car payments can be an example. The lender may repossess the car if you don't pay the balance off in full. Non-payment on credit cards adds interest to the amount owed. Credit cards may also add interest from the date posted. You lose the grace period on purchases made during the month. n Credit Cards Credit card companies send a periodic (monthly) bill. The bill lists all purchases and payments. The total amount of your monthly credit card bill depends on how much you have charged. Amount due is different each month. The minimum payment is a percentage of the unpaid balance. You have choices in how much of the bill you pay: Pay the total amount of the bill. Pay the stated minimum amount. Pay between the minimum amount and the total amount.

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Paying Your Bills/Pagando Sus Deudas 2 If possible, pay the total amount. Pay at least the minimum amount every month. The quicker you pay the less interest you will have to pay. Installment Loans These are credit contracts for buying things and paying for them over a stated time (example: one year). The payment is the same amount each month. You usually are given a "payment book" and do not get a bill each month. You must take a receipt out of the book each month and send it along with your payment to the creditor. Credit Reporting Agencies A credit reporting agency keeps these records: nWho you owe How much you owe How prompt you are in paying. Creditors check your record when you apply for credit. If you pay your bills promptly, you will be able to get the credit you need. If you are slow to pay, you may have trouble getting credit. Pagando Sus Deudas Es importante pagar sus facturas antes de la fecha de vencimiento. Si paga tarde su registro de crdito se afectar. Si usted es lento al pagar sus deudas, el crdito le costar mas. Tambin, le ser mas difcil obtener crdito. Siempre envie los pagos de manera que le llegue al acreedor antes de la fecha de vencimiento. La fecha de vencimiento est escrita en la factura. Por ley los pagos tienen que ser registrados cundo son recibidos. Si el pago ha sido enviado pero no se ha recibido antes de la fecha indicada, se considera como un pago tardo. Lea su contrato de crdito con cuidado para saber que va a pasar si el pago es tardo si no lo hace. Puede que tenga que pagar un cargo adicional. La cantidad del cargo adicional depende del acuerdo y de la clase de crdito que us. Muchas tarjetas de crdito cobran entre $10 y $20 por pagos tardos. En otros tipos de crdito el cargo puede ser ms alto. Por ejemplo, en el pago del prstamo de la casa, le pueden cobrar hasta $50. Su contrato del crdito tiene que indicar si har una multa para pago recibido trde y tiene que indicar la cantidad de la multa. Con algunos contratos de crdito el total del balance adeudado se vence immediatamente. Por ejemplo: si no hace el pago del automvil, usted quizs tenga que pagar el total que debe o el auto ser reposedo. Con tarjetas de crdito, los intereses son aadidos por el perodo que no ha pagado. Algunas tarjetas de crdito tambin aaden inters desde el da que el cargo fue hecho en su cuenta durante el mes anterior. Usted pierde el perodo de gracia en los cargos hechos durante el mes. Algunos aaden un cargo por pago tardo. Con las tarjetas de crdito, usted recibe facturas peridicamente (mensuales). La factura incluye la lista de los cargos y los pagos que ha hecho. Usted puede pagar la cantidad total, o puede pagar la cantidad mnima permitida. Si le es posible, pague la cantidad total. Si no puede hacer el pago total, asegrese de pagar la cantidad mnima. Mientras ms ligero pague, menor ser el inters que tendr que pagar. El total de la cantidad adeuda en su tarjeta de crdito depende de canto usted ha cargado. La cantidad adeudada vara de un mes a otro. El pago mnimo es un porciento del balance adeudado y varia dependiendo del total adeudado. Los contratos de ventas son usados para comprar artculos y pagarlos durante un perodo de tiempo (ejemplo: un ao). El pago es la misma cantidad todos los meses. Por lo general usted recibe un "libro de pagos" y no recibe una factura mensual. Usted tiene que mandar el recibo del libro de pago con el pago del mes. Las agencias que reportan sobre el crdito mantienen un registro de a quien usted le debe y la cantidad adeudada. Tambin mantienen un registro

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Paying Your Bills/Pagando Sus Deudas 3 de la prontitud con que usted paga. Cuando usted solicita crdito el acreedor revisar su registro. Si usted paga sus deudas con prontitud, usted recibir el crdito que necesita. Si usted es lento al pagar, usted puede tener problemas si desea obtener crdito.