This morning I called up my utilities company to share a proposal: “What if I decided I’m not going to pay you until 90 days after my bill is due?”
Fay, my agent, wasn’t quite sure what to do with me.
“I’ve never been asked that!“ she said. I told her not to worry, I was just doing some research. Putting hypotheticals out there, to see what kind of power I might have. (Please don’t shut off my electricity.) She laughed, and explained how this typically works: If I don’t pay a bill within a week, they’ll routinely assess a late fee. If I’m legit struggling to pay, I can request financial assistance. But if I were to say, “Paying you in 90 days is my policy now”? Lights out.
Which seems obvious. It’s standard practice for a business not to accept Net 90 payment terms. I don’t just get to decide I’m paying all my bills late — not without facing any consequences.