Get Caught Up On Your Utility Bill

Posted by CapWay in BudgetingJanuary 8, 2020(Last Updated December 30, 2022)1 min read
Key Takeaways
  • If you are having trouble making your utility bills, then you can check to see whether your utility company offers arrearage plans.
  • Your utility company will give you a set monthly payment based on the owed balance and your average usage.
  • Each time you make an on-time payment, your utility company will forgive a percentage of your overdue balance until the balance is forgiven. 
Are you ready to make some real money moves?

If you are having trouble making your utility bills, then you can check to see whether your utility company offers arrearage plans.

 

With this type of repayment plan, your utility company will give you a set monthly payment based on the owed balance and your average usage. Most arrearage plans last for a year. Each time you make an on-time payment, your utility company will forgive a percentage of your overdue balance until the balance is forgiven. 


To qualify for an arrearage plan, you must meet certain criteria outlined by your utility provider. Some qualifications include: 

  • owing a certain amount 
  • being past due more than 1 month 
  • not owing more than a pre-determined maximum 
Was this content helpful?
Comments (0)

Sign In to leave a comment.

Download the CapWay App

Access more features to your Money Account

  • Money Goals
  • Request Money
  • Categorize Spending
  • Money Talk

The CapWay, Inc Debit Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. “Metropolitan Commercial Bank” and “Metropolitan” are registered trademarks of Metropolitan Commercial Bank ©2014.

1. For Money Account holders with a negative balance, the CapWay debit card will go into freeze until funds are deposited to bring account back to current. See terms and conditions

2. Sending or receiving money from other CapWay account holders will be instant. Transfers from other accounts could take up to 48 hours, depending on the financial institution.

3. Early access to funds requires direct deposit. Early payment is not guaranteed and is dependent on the timing of payer's submission of deposits. We generally post such deposits on the day they are received which may be up to 2 days earlier than the payer's scheduled payment date.

4. Money Goals allows account holders to save money towards financial goals created within the CapWay platform. Funds can be transferred from your Money Account or saved through the rounding up of your transactions from purchases.

5. CapWay offers financial content through Learn Money free of charge, but may include advertisements through affiliates. Phunds, CapWay's literacy program and session, is paid content or co-branded content.

© 2019-2024 CapWay Inc. All Rights Reserved.