All financial and bill statements are generated by computers using data entered and programmed by people who can make mistakes. Always verify all statements received ensuring the validity of the information. Companies may not be aware of a problem with their customer’s accounts or statements unless their customers bring the problem to their attention. Afterwards, companies may not correct the problem with all their customers; instead they may only correct the problem for the customers who complain. The reason is because the companies receive extra income from those customers who do not read and verify their statements.

     Ensure all items on the bill statements received match your receipts or records to determine if any extra charges or the wrong amount occurs. Also, ensure the bill payment(s) are posted in a timely manner with the correct amount. Payments posted late can result in unnecessary interest or penalties.

     Ensure the activities in your bank accounts are valid. The transaction amounts and dates in which automatic investing, withdrawals, and payments occur may not be correct. Also, check your phone bill ensuring the phone calls are valid.

     Simply writing a check for the balance due may result in you paying unnecessary charges and may result in not noticing fraudulent activity, therefore always check all your financial statements.


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