by Tricia
I received the following question from Mandi about overpaying a bill.
While waiting for my cell phone company to correct an over $500 error, that took 4 months, I was paying what I should have owed, @ $130 a month. This month I look at my balance online and it shows $0.00 due. Great it’s almost fixed, they over credited my account. I paid the $130 and called them this morning to let them know about their error, again. No error, I have a credit of almost $82.00 [now on my account]. (the $130 sent will bump the credit balance up to $212.00).
My question for you and your readers would be:
Do I pay $30.00 to stop payment [on the $130 check sent] and use the $100 for other bills, or let them keep the credit [and use it towards your monthly fees in future months], and save $30.00 in the process?
I’ve only issued a stop payment on one check in my life. It was to the state and was for a few hundred dollars and the check never made it to its destination. I dreaded the stop payment fee, but I run my checkbook very low and I couldn’t take a chance that the check would show up and they would cash it. Not to mention that I would have a credit with them for a full year. So, I issued the stop payment and cut them another check.
In Mandi’s situation, I probably would let them cash the check and leave the credit on the account. Seeing as I’d use up the credit in two months, that isn’t too bad for me. I’d probably think of other things I could use that money for this month, but at least next month I won’t have to worry about paying that bill.
What about you? What would you do?