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September 30, 2021 - Beginning tomorrow, the USPS is going to be slowing down mail deliveries for some first-class mail. The change was proposed months ago but hasn't received a tremendous amount of press. That's unfortunate because those who are unaware of it could wind up getting hit with late fees on their bills - or worse - if they stick to a mailing schedule that was developed before the change.
The new delivery schedule is being implemented to reduce costs. The USPS is expected to have a $160 Billion operating deficit over the next ten years and they are trying to reduce or contain that number.
Regardless of the reasons behind the change however, it will result in some real-world consequences. Beginning on October first, the guaranteed delivery time for first-class mail will be increased from three days to five. This essentially means that any time-sensitive items need to be mailed a week in advance of their desired delivery date.
Inevitably, this change is going to result in late charges on bills for millions of people. And for anyone with a prior history of late payments, there is a potential for damage to their credit scores as well.
Anyone who receives any late fees within the next couple of months would be well served to contact their creditors directly, explain that they mailed their payments in what they thought was a reasonable time frame and ask to have those late fees waived. And going forward, they need to be making their bill payments just a little bit earlier than in the past.
by Jim Malmberg
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Credit Issues 
