You probably have a phone bill that’s overdue.
You may be confused about the amount due.
Or maybe you have questions about whether you’ll actually be able to pay it off.
Now, we’ve got answers for you.
The U.S. Consumer Financial Protection Bureau is set to release a new set of guidelines to help consumers pay their phone bills.
And you’re not alone.
The Consumer Financial Services Task Force (CFSTF) has long warned that phone bills are a major financial burden, with millions of Americans still struggling to pay bills or have trouble paying bills at all.
The new guidelines, which are expected to be released this week, could help ease some of that pain.
The task force said the guidelines could reduce the amount of debt consumers have to carry around in their wallets and reduce the likelihood that consumers will go into default.
What’s includedIn addition to the new guidelines the task force will recommend a number of other changes that would make it easier for consumers to pay their bills.
It will:Make it easier to get a credit reportFree and clear access to phone bill paymentsFree phone service to make payments at your home without a phoneIncentives for those who pay on time and avoid defaultIf you have a credit card and you don’t have a bank account, the bureau says you may be able a credit line of up to $100.
The bureau has suggested that those who do not have a checking account or pay monthly, they could be eligible for a small fee credit.
The amount of that credit depends on your credit score.
The bureau also said the rules could make it much easier for people to pay off their phone bill.
The group recommends that people with a credit or debit card who pay bills on time should have a $50 credit limit, or they could qualify for a $10 monthly payment credit.
In the past, the task group has urged that consumers have a financial cushion to cover any amount of money owed, so if you have $500 in your checking account, you may not be able pay that bill.
That’s not going to be true this time around, the CFSTF said.
The task force’s recommendations were made with input from consumer advocacy groups and the Consumer Federation of America.