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quandojoy

Statement / Billing Cycle

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Read was that a billing statement comes 28-30 days after invoice, sometimes shorter or longer.

 

Is it normal to have a statement generated as early as 10 days after an initial installment payment?

 

 

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statement for what? I have one bill that sends a statement a week before work is performed each month

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15 hours ago, quandojoy said:

after an initial installment payment?

Installment payments are due and noted on the RISC that you signed and have a copy. 

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Concur with Hege's question...WHAT specifically is being asked?  Invoice suggests a specific service, and those are going to be up to the individual vendor.  Where installment payments exist, they are going to be consistent with the terms of the contract.

 

If, on the other hand, you are asking about credit cards, it is not at all uncommon to see the statement billing cycle close within a few days following the due date.  The statement will be mailed within a day or so of the billing cycle having come to a close. 

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See, my State Farm Visa payment is due on the 13th of every month.  The statement closes on the 16th and I get in the mail barely a week later, which give me weeks to write the check, watch the ink dry, and walk 3½ miles to the post office.

 

My car payment (Toyota Financial Services thanks for asking) is due on the 19th and I get a statement in the mail about a week before it's due.  (I wonder if it's their crafty/shitty way of trying to disincentivize paying by mail.)

 

My point is, among credit cards and installment loans, yes, there is great variance.

 

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