What is the law about postmark and payment fees?

Answer by  patti (29325)

Payment centers are automated. Payments are opened by machines, and read and posted by electronic readers. Hundreds of thousands of payments come in daily; no one checks postmarks. Mail your payment a few days early, or phone the creditor to arrange a payment over the phone.

Answer by  patti (29325)

It depends on the contract, not a statute. If your agreement says the payment must be RECEIVED by the due date, that means it must be POSTED by the due date, not postmarked. Most payments today go into a payment center and are processed the same day, but do not have anyway of checking postmarks.

Answer by  John (9008)

This can vary. The fine print on your agreement with whomever is sending you the bill will determine the answer. Most of the time, however, the payment must actually be recieved by the due date. In other words, your payment is probably late.

Answer by  LegalEagle59 (19)

It depends on the terms of your agreement with the creditor, but usually the payment has to be received by the creditor on or before the due date.

Answer by  carlady (182)

It depends on agreement with the company that you are paying, luckily you can usually call and explain your situation and they will extend the deadline for you if it is only by a couple of days.

Answer by  tamarawilhite (17883)

This will depend on the rules of the vendor or the service provider. If their service contract says they must have received the payment by a specific date, it does not matter what day you mailed it.

Answer by  colshan (63)

Can a creditor require receipt of a payment by the due date in order to credit me with the payment? I have mailed in my payments by the noted due date, but the creditor still reports my payment as late.

Answer by  pansy (421)

the law about postmark and payment fees are as long as its postmarked by due date no late fees should occur.

Answer by  Charles (15)

There is no law about postmark and it shouldn't have any fees. In my opinion, if your payment was postmarked by the due date, it should be acceptable and not consider late payment.