Managing your loan doesn’t have to be a hassle. At the start of your loan, there are a few simple steps you can take that will help set you up for a successful repayment. Here are some strategies to help you stay on top of your loan.
Remind Yourself
The first step toward a worry-free loan is knowing when your monthly installments are due. Do yourself the favor of taking care of all the reminders that you’ll need up front. That way, you’ll know exactly what’s expected of you.
Setting up reminders is an effective way to prompt you to make your payments, or may prompt you to remember specific details or dates even if you forget farther down the road. With just a few quick steps on your phone or computer, you’ll be able to stay ahead of the curve with each installment.
Set up alerts on your phone a few days or up to a week in advance so that you can ensure you make payments on time. If you use a calendar or planner, make sure to write down installments and other important dates. The best part about reminders is that they’re simple and typically take only a few minutes to set up.
Payment Methods
To help make repaying your loan as simple as possible, you can choose to enroll in automatic payments via Automated Clearing House (ACH). Setting up automatic payments at the outset of your loan is a worry-free way to take stress off your plate.
In addition, you can arrange to pay by other accepted methods such as paper check, cashier’s check, or money order. Whatever your preferred payment method, be sure to set up reminders and give yourself enough time to make payments each month.
Avoid Overdrafts
Check your account to make sure you always have enough funds to cover your loan payments, as well as any other payments you may have. Keep track of when your payment is applied to your account so that you know exactly what funds you have available. Log on to your Avant dashboard to see your payment options.
Don’t pay your loan off in the dark. Staying in control of how and when you pay off your loan is easier than ever. Here are 3 things you need to know about paying off your loan through Avant.
