GoTv24

We started off learning about the timeline of a bill:
Set up account (like electric)
Make deposit
Get a reading date (last date the record activity)
They submit to billing
The send you a bill
You have two to three weeks to pay ‘on time’
The ‘due date’ is actually the late date
Now they send a late fee
You have two to three weeks to pay with late fee (some people see this as a loan)
Now they set a disconnect date
They send you a disconnect bill
Now in the middle of all this they may log you down as 30 days late on credit report
You will be 45 days into it
Now you have a late late date up to 60 days into it plus fees

Ugh, right?

Now lets look at time line of a cd:
bill:
Set up account (like electric)
Make deposit
Get a mature date (last date the record activity)
They submit to accounting
The send you a statement
You have two to three weeks to pay ‘on time’
The ‘due date’ is actually the mature date
Now they send a early fee
You have two to three week to pay with fee (some people see this as a loan)
Now they set a maturity date
They send you a disconnect statement
Now in the middle of all this they may log you down as 30 days on credit report
You will be 45 days into it
Now you have a date up to 60 days into it plus fees


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s