Start paying the bills when it arrives, that is in time instead of keeping it somewhere else. Stop piling them at a kitchen counter or in a folder hoping to pay it off later and eventually forgetting about it. If you plan to pay your bills on a single day, make a schedule of bill-payment time in your calendar or in your schedule and do it, make this a habit so you will not miss out on the due date.

Make a place where you want to keep all your bills instead of throwing it here and there, also it is important to organize your bills according to the due date wise so that you do not miss out on the ones that has to be taken care of before the other. If possible try to consolidate bills that are instead of paying multiple vendors for their services try to get one service provider for your multiple things like TV, telephone and other internet. In this way you can have a single bill and pay it off at once.

Try to get e-statements or online bills instead of the paper ones, as often the paper bills that are mailed out get delayed, resulting in the expiry of the due date or the grace period and the customer having to pay the interest or late payment fee. Also signing up for auto-pay is a good way of avoiding late payment. Most of the regular and recurring bills can be done by auto-pay, it will give you the option of giving the fixed amount deducted from your account from a designated bank on a fixed date, in this manner you do not have to worry about whether it got paid or not.

Also various software are available that reminds you of paying your bills in advance once it has been set. For that, understand the billing cycles of the various services that you are charged for. Generally, bills fall into two categories, some which are due in the beginning of the month and some that are due towards the end. If you are facing problems clearing the bills that are scheduled towards the end of the month, call up the service provider and ask them to change the date according to your convenience.

Sitting down or going to the bank to clear the dues of the bills in the busy lifestyle that we all have is quite bothersome. So if you are not that tech savvy where you can go online and pay your dues, one just have to pick up the phone and the bills can be paid in exchange of a very nominal fee compared to late payment fees.

So next time you think of putting your bill away just remember the late payment fee and the extra money you are giving these service provider for no reason at all. But if you are in a real financial trouble, you can always ask them to levy the late payment charges or give you some extra tome to pay the dues. In most cases if the customer has a clean regular paying record the service provider gives that benefit.

Online payment option is one of the most lucrative one that MTNL has now introduced. The customer can use his or her credit card or any other form of net banking facility to transfer the required amount from the bank to MTNL. All one needs to do it register with the Bill Junction or Bill Desk. So next time you do not have to wait in the line to reach the counter to pay the bills.

IVRS (Interactive Voice Response System) payment option is another one, one can just pay the bill via telephone. For that one has to dial 1296 (toll free number) from the MTNL mobile or a landline phone follow the instructions, give the Landline number and the CA number, which will be confirmed and then the amount of the outstanding bill will be said. After that the customer has to make the payment through the credit card and keep the transaction number for future dealings. However in IVRS system, no payment of bills will be accepted after the due date.

MTNL counters and drop boxes are also available for paying the bills, At the MTNL counters the customer service people are available where one can give cash or cheques. At the MTNL drop boxes the customer has to put a cheque and no cash is accepted. In the drop box along with the cheque one needs to be dropped with a counter foil in some specific bank boxes like ICICI, Standard Chartered and Bill Box, most of which are located at the important places of the city and railway stations.

Dropping the cheques or paying bills at some nationalized banks can also be done. The banks where MTNL’s bills can be paid are State Bank of India, Punjab National Bank, Dena Bank, Central bank of India, Union Bank of India. Post offices are another place where MTNL’s bills can be paid; over 300 post offices accept cash, while 200 post offices accept cheques. Both Central and Departmental Telegraph Offices also accept the payment of the MTNL telephone bills. List of the post offices accepting the bill payment for MTNL can be found in the website of the company. Axis Bank is also working in collaboration with MTNL as one can pay the bill from the ATM of an Axis Bank at anytime.

All of these are still a bit of a hassle; MTNL has made things much easier for its customers by introducing Electronic Clearing Services, where the bills can be paid electronically via a bank. All one needs to do is fill up the ESC Mandate form and submit it at MTNL CSC, authorizing the stated bank to disburse your money for the bill. The money will be taken from your account about 21 days after the bill has been issues, the customer also gets a chance to set the upper limit for the bill and change it when required.

There is also another scheme provided by MTNL in bill paying system that is Voluntary Deposit Scheme, where a customer can make some money while paying the bills. The customer has to pay an amount for 6 months or year in advance. MTNL will deduct the amount deposited for the bill every month, while the customer can also get interest on the money that he has deposited.

So with all these benefits provided by MTNL, there is less reason for a customer to be a defaulter or suffer from late payment charges.

In many services now the payment is asked when the good is being delivered and if bill paying by SMS is going to pick up then location of the customer won’t be hindrance anymore in getting the goods or the service while not being at that place. For example a person can pay his or her bill of a good or a service that he or she has received at some other place while enjoying a meal at a restaurant. While at one time carrying the plastic card to pay the bills became the most convenient thing in a person’s life and still is, with the popularity that cell phones has gained, it would not be surprising that the plastic cards are making way for the mobile phones to pay the bills by SMS.

But one thing that has to be done to have the payment of bills via SMS to be working is to bring the terminals of the point of sale (POS) to the places of purchase. So how does paying off the bills with a SMS work? Most mobile devices are now being integrated with various services; one of them is that a chip is being embedded into the cell phones that are capable of storing personal data and information which can provide identification and secure authorization.

Paying bills by SMS would also help the users to avoid late payment of the bills and incurring high interest and eventually having a bad credit score. One does not have to carry any paper or other details but just texting the information after registering the mobile with the network would do the trick. For this to work the various service providers has to work in collaboration with the cell phone service provider companies as well as the banks.

But making the wallets virtual might be a bit costly right now, but with the increase in its popularity and the collaborative work between the financial institutes and mobile companies, the prospect of paying all your bills by SMS is not a farfetched dream. So if you can just be a bit organized and decide on the time as to when you have to pay your bills, one would just need to send a SMS and the job will be done. It will be faster and much easier than online banking and even wire transfer procedure. Thereby, bringing in the concept of pay anytime anywhere a conceivable one. Already in many cases bill paying by SMS is in the go, it is just a matter of time when it can be done for almost all the services.

It has also become one of the safest and fastest modes of transferring money from one account to the other, but to do so one need be careful about the details they provide for to the bank or the companies that does wire transfer. The details that are required are the Full name of the person or company to whom the money is to be transferred, the Bank Number, the Account number, the type of account and the Bank routing number. Without these details the wire transfer is not possible. Along with these the details of the payee’s is to be given too, along with his or her bank details.

In most cases the banks where a person holds an account does the wire transfer at a minimum cost, but often people go for big names resulting in giving away quite a sum of money in the transfer. Most of the banking institutions are more reliable than the private wire transfer companies and they can do it effectively. In wire transfer the money gets into another account in a day or at maximum within two to three working days, if it is off-shore transfer.

Wire transfer is also possible for those who seek a short-term loan or a payday loan. That is get money immediately into your account after passing an eligibility test. If a person has fallen into a serious financial crunch, and needs to borrow money immediately from a bank or some loan companies, it can be done online. This is for those who need temporary cash immediately. For such cases the borrower needs to fulfill the criteria set by such companies and understand their rules and regulations. Fill up an application form online and which will be assessed online and within few hours the outcome of the loan request will be available to you. In the case, where you get the loan the amount will be wire transferred to your bank account, and in the case of rejection one would have to check the criteria for failing to get it.

But in wire transfer do remember to ask for the printed receipt after the completion of the transfer. The receipt should have all the details about the transfer and one must keep it handy, so that in case of some disputes or failure in the transfer it will be handy as evidence and the bank or the wire transfer company can look into it again. So avail this wire transfer option as it is time saving, it will help you to be focused on other important things in your life and business instead of worrying about writing a cheque or depositing cash to the bank for money transfer. It will also help you to meet the deadlines of the payment without the worry of getting delayed.

The initial reaction is to panic, but surely that will not help you to overcome that crisis, so stay calm and plan how to pay-off. Mostly if you are in a severe situation where you are in a financial crunch and so far had a good record, a simple and polite request to the service provider can do the trick. They can extend your period for the repayment and at times even let you go interest free for a certain period of time.

The service providers generally send the turn-off notice after the regular bill has been sent but gives the customer at least several days to pay back the due amount. Often turn-off bills are result of the customer being absent-minded and failing to pay the bills in the right time. Even disorganized pattern in handling the finances can be the reason. But there are times when the reason is a genuine one where the customer faces some real financial problems and fails to pay the bill.

When such cases arise, if the customer tells about it to the service provider with the proof of the real problem then there is a likable chance of getting some extensions in continue to have the service. So how one is suppose to handle a turn-off notice when served one?

To begin with manage your finances well, start paying the bills when it arrives instead of stocking them somewhere and planning to do it later. If you are facing some problem paying off due to lack of finance, check the usage of the service, and limit it to the bare essential. In the case of credit cards where you are already facing the interest rate and your credit limit has been dropped by the credit card issuer, it’s very important that you spend within the limit. Or else there is this good chance of your interest shooting up and pushing you into more debt.

Try to find a service provider who charges you less and can give you interest free benefits for longer duration. If all these fails seek the help of a professional companies who can give you the benefits of settling the dues with the minimum interest rates. Since all service providers will want to get their money back instead of getting nothing at all. However, there are times when a service provider issues a turn-off notice when their service has not been used for long; this is just another way for them to remind their customers about themselves.

At times credit card providers instead of issuing a turn-off notice just decreases the credit limit of a customer, in doing so they just want to hold on to the customer and want them to use their service more. If all these make you uncomfortable call the service provider and tell them to rectify it. But do learn about the turn-off regulations that the service provider has as if you feel that you are wronged you contact them and ask them to rectify it. Since many a times the customers are just not aware of the rules and fail to take the benefit of it and ends up paying for something that they could have avoided.

As the people in charge of collecting your debt are just doing their job and not sitting there to harass you, you owe that company the money they are asking for. Though you might feel that evading the debt is a good idea, it is not as the creditor can challenge you legally in civil action. Hence do what is necessary than going for debt evasion.

How to go about the debt evasion? Get a professional, who will know how to help you out and give you the best deal. There are programs available that will be beneficial as it will help you as a defaulter to get your accumulated interest settled along with other penalties for not paying up so far. The plans can be useful in reducing the chunk of money that you owe to the creditors to a bare minimum including the interest that you owe them.

The professionals will work with the creditors and the debtors simultaneously trying to give both the parties the best of the deal. On one hand they will lower the interest rate on the other hand they will be able to give the creditors a portion of their money back, which they might have failed to get if they went on after the debtor. In debt evasion plan the counselors will also draw up a future plan where the debtors can save money and have less chances of falling into the same debt evasion trap.

Most of the time in the debt evasion cases, when the professional help comes in, they plan the consolidation program to be once-in-a-month, where the payment can be done in the least number of transactions with minimum duration. As this will help in reducing the interest rates, as prolong the repayment plan is the interest rates will go up.

Also debt evasion will lead you to have a credit report that will hamper most of your future dealings and lowering the credit score. So find a debt consolidator and stop the plan of debt evasion as the counselor will take care of how to repay your debts, your credit report will also be immaculate. But the best thing is plan your finances and do not cross the limit of credit, but even with proper budgeting sometimes the unwanted things happen and at admit the problem and take the help. It will smooth things out for you instead of planning for debt evasion.

Here are few tips to avoid late fees. Firstly the best way is to pay the money that is due at the first available chance, for that arranging an automated system is the best option. If you have a healthy bank account, arrange it in such a way that every month the minimum amount due can be transferred from your bank account to the company on a fixed date without incurring any late fees. One can always pay-off more when the time is right.

It is always advisable to pay-off the entire amount that is due before the due date, but if you are not in the position pay the minimum amount. If you fail to pay the company will be after you, so once you pay they will leave you and be glad that you will be paying higher interest rate on the balance amount for the upcoming month/s.

Most often late fees are the result of the wrong due dates. So if you feel your money is slipping away before you can pay-off, just call up the company and ask them to change the due date to the date of your liking. The best day is on the same day that you get your cheque of the month.

Understand the company’s rule regarding the payment, as most of the companies are meticulous about their payment methods, so learn which process is beneficial for you so that you can avoid late fees. Most companies in India prefer to have their cheques in their office three days before the closing of the due date and in failure to do so a late fee is incurred. There are also rules in relation to paying cash, so learn these terms and conditions.

At times the paper statements get delayed resulting in the customer having to pay a late fee, so use the technology and go for e-statements and pay your bill online. Also if you are in some unavoidable circumstances once in a while you can ask the company to waive the late fee. Most companies will do that when requested but that will not happen every time. Lastly, if you are in a real tough situation financially, unable to pay your dues for that month, you can ask for the option ‘Skip-a-payment’. Most companies give that benefit once but not regularly.

Late fee on a regular basis will give you a bad credit score and the late fees can soon send your finances over the limit, where you will end up paying more than you bargained for, while purchasing goods. So plan your bill payment and avoid late fees.

But to avail this benefit one needs to know about the grace period that the credit card or the company from whom you are loaning the money offers. As well as it is important that you should pay off the entire sum that you have taken from the company at one go before the grace period expires or else you will be liable to pay the interest amount.

What is a grace period? It is the times from the day your payment statement was prepared by the company to the day when you are suppose to pay the amount without being liable to any interest. But do not confuse it with the day when you receive that statement, as if you are into getting paper mailed statements it is very much likely that your grace period will be less compared to getting e-statements.

Many bill payers get a raw deal when they are for paper statements as often the slow mail pace results in expiry of the grace period, hence they are forced to pay the interest, so it is advisable that the customers apply for online e-statements to avoid coughing up more money than required. One thing that customers should be aware of in availing the grace period and not paying the interest is that some have to pay off the entire owing balance. In some cases of interest free period, the customer can pay only the closing balance as prepared by the company by the due date.

The customer needs to check all these details before purchasing a product with the help of that company’s credit card. Here are few things that one should need to remember to avail the grace period and have an interest free card usage. Get to know the time when the statements are prepared and the duration of your grace period. Manage or plan the payment of your bill in such a way that the company receives the money before the grace period expires. To avoid late payment get registered for online e-statements so there is no chance of getting your mail delayed by post. If you are online savvy try to manage your payment account by online bill payment procedures, so that the disbursement of your amount to the company’s account does not get delayed.

If you can take care of all these issues, and know the terms and conditions of your grace period and interest free usage of your credit card and bill payment, no longer you have to cry hoarse about being in the place where the company is sucking out more money from you than what you owe them.

Generally in cases of employees do not face tax arrears as their money gets deducted from their earning and as a result they are rarely the defaulters but at times the income tax department does owe an arrear to the employee. But in case of a business often it happens that they owe they tax arrears. The reasons for such arrears can be many, poor accounting system, lack of the calculation of the VAT or other taxes, poor advisors and financial management. All these can lead up to arrears for the company and eventually affect the business.

So it is important to clear up the arrears and stop the miscalculation, and if you are running short of money or suffering from a debt, then it is better to seek some outside help. Credit is always an option to give oneself an immediate relief from such a sticky arrear situation. One can seek help from a consultation firm that specializes in bill consolidation and help you with a customized plan in overcoming your debt and then reorganize your finances. The companies also help you in getting a loan and paying off the current arrears and later on the loan.

To pay off one’s arrears, personal loans are also available and they are easier to get provided that a deposit can be kept in the bank but while facing the economic crunch it is advisable to get an outside help of an expert to pay off the pending bills. At times when proper care is not taken and the company becomes insolvent the person in charge of the business becomes liable to pay the arrears and the debt. At such cases the problem will only get bigger than getting solved, so seek a professional help for the pay-off and get back into a stable condition.

It is therefore always better to keep the calculations of the taxes and the bills that are to be paid in order and budget properly so that arrears do not occur. Even if it does happen get an immediate help of the expert. Employ people who are capable of handling the accounting and the tax, get the right accountancy system, as if the arrears are not paid off regularly one will not only face fines and other charges but too much of overdue might pull the company or business down to the stage where it can get liquidated.

So when you start to plan your finances do it in such a way that you do not enter the phase where your bills are pending and you are facing arrears, as it is difficult to come out of such a situation. Also keeping your bills clear will enable you to focus on the other important issues at hand instead of worrying about how to pay your arrears and if such a situation arises go for a professional help instead.

Now days it is easier to keep track of one’s receipts and not misplace them with the help of scanning them with a special receipt scanner software and organize them accordingly, either online or offline in folders and retrieving them whenever it is necessary. Hence instead of keeping loads of paper to track the your personal or commercial finances, it is easier now to do so electronically, also scanning and keeping the receipts would not only make your life paper-free but also the possibility of having crumbled and ineligible receipts, which are at times the cause of immense headache in the time of calculating finances and book-keeping.

The receipt scanners are now loaded with software, which will keep the receipts in the various folders according to its categories, so when the tax session is up, you do not have to head-hunt for the receipt of a particular expense. These scanners can not only read and keep the information of the receipts intact, but at times they can read over eighty percent of it after scanning, which includes the name of the vendor, the tax calculated, the amount, the date and even the type of payment. But that is not all; if you want you can add a comment to each of these receipts before storing it, also it can be coded as well as information that you want to add to it can be done.

This kind of keeping track of the receipt with its latest software can also work in with most of the software that are available for accounting. Hence in your business or in maintaining your personal account the keeping of the receipts intact and managing them well will not only save your time but will also help you to concentrate on the things that requires your attention. Keeping the receipts organized will also help you to solve problems with any clients or company on any dispute regarding the things that have been purchased by a client or by you. Most of the receipt scanning software is quite user-friendly and if one wants, he or she can enter the details of the receipt manually. Thereby making it possible to track as well as report the expenses just by scanning a receipt.

But one does need to be organized in maintaining the receipts well, even though scanning and keeping it electronically seem an easy task. One has to develop the habit of scanning it and putting it in a folder when one receives a paper receipt instead of crumpling it or putting it somewhere else in the hope of doing it later. Also in case of receiving an electronic receipt it has to be categorized and placed in the right folder or template, so before you start scanning and keeping the receipts in a folder, make the correct templates which will eventually help you in saving more time.