Split ANY Bill Into 4 Installments (And Improve Credit Score At The Same Time!)
There you are. It’s 2022 and your working hard to pay the bills, when unexpectedly your landlord states to you that he has to jack up the rent by a hundred dollars. You’re in one of those dreadful contracts where the rental rate can go up at any given moment and there you are, having an anxiety attack because you’re up to your neck as it is.
“Is there any way out of this debacle?”
Yes. I got you.
Thankfully, ways to get yourself out of a rut and improve your credit score has improved dramatically over the years.
Back then, the best way to improve your overall credit score if you were down in the slumps was to pay into a secured credit card (which required some kind of a deposit), and pay an annual fee (which sort of defeats the purpose for someone who doesn’t make alot of money or is in a tight spot financially. (What a dumb idea!)
Inflation is higher than ever in 2022 and there’s no determination on when or if it’ll improve anytime soon. Thankfully, I was able to gather a solution to those who are up to their necks in debt and need a little bit of help being able to afford that one bill that’s throwing you off track.
I want you to see the light at the end of the tunnel, but I don’t want it to be an oncoming train!
My “light at the end of the tunnel” is a fairly new service called Deferit — You simply upload your bill, Deferit pays it in full and they’ll split your bill into 4 different installments to make it easy and convenient for you to afford that bill and catch up. Best of all, it also improves your credit score. Win-Win!
What to know:
- You don’t pay interest. Period.
- No late fees, no hidden fees.
- Almost any bill is covered by Deferit.
- They’ll cover up to $2,000 of balance to pay your bills. (Which covers most bills)
- You do pay a subscription of $7.99 a month. After all, they have to make money somehow, but they’re helping you pay that expensive bill PLUS improve your credit score. It’s a fair deal in my opinion.
- You improve your credit score.
- They have a mobile app to monitor your payment process (which is highly rated on the app stores btw!) for both iOS and Android.
- Deferit is only available in all states except: Delaware, Idaho, Indiana, Mississippi, Missouri, Nevada, New Mexico, North Dakota, Rhode Island, South Dakota, Washington and Wisconsin. However, their ‘Pay it’ feature and bill management platform are available in all states.
What kind of bills are covered? Let’s look into that.
According to Deferit.com:
“The most common bills that we pay are utility bills (gas, water, electricity, internet, etc.), rent and vehicle registrations (DMV), but we will look at veterinary bills, medical bills, educational bills, dental fees, insurance and more! Almost any bill can be deferred, provided all the information that we need to make the payment is given. This includes the payment details, bill amount, and due date.”
What’s not supported?
Unsupported bills:
“There are a select handful of bills that our Pay in 4 feature is not able to support, including credit contracts such as loan or credit card repayments. As we are a budgeting tool, we also do not take care of any discretionary expenses, including the purchase of retail goods or travel. For things like credit contracts, you are still able to use our Pay It feature, where you pay us upfront and we take care of the hassle of paying your bill.”
Disclaimer: In no way, shape or form do I work for Deferit. I simply post and write about what I’ve used personally for myself so I can provide factual and proven methods to help people financially.
I give it 5 Stars for how great they are. Their app was easy to use, service is excellent and you can use them over and over to keep helping you get out of any financial bind that you’re in as well as improve your overall credit score. Their support team is very responsive and that in itself is worth it.
