37% of Americans paid a late fee in the last 12 months, report finds

Many consumers are finding it hard to keep up with their bills.

To that point, 37% of Americans have been charged a late fee on a bill in the last 12 months, according to a new report by NerdWallet.

Credit card late fees were the most common, with 21% of survey respondents incurring at least one. Others had been charged late fees on utility bills, 10%, and rent, 8%. NerdWallet polled 2,061 U.S. adults in early April.

“Late fees are just one consequence of making late payments,” said Sara Rathner, a travel and credit cards expert at NerdWallet.

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While you can be assessed a late fee as soon as you miss the payment deadline on a credit card or loan, it typically doesn’t show up as a black mark on your credit report until you are 30 days late, said Matt Schulz, chief credit analyst at LendingTree.

And if you’re late by 30 days or more, that’s when it starts to get more serious, experts say. Falling behind on payments can also come with more severe consequences, such as having utility services shut off. Some consequences can be immediate, too, like car repossession.

“If you know that you’re going through a financial rough time, it’s definitely better to tackle it head-on and not wait,” Schulz said.

Here’s how to limit the impact of late fees and work with creditors if certain life events, like a layoff or financial hardship, are impacting your ability to pay.

If you are beginning to fall behind on usual monthly payments or anticipate doing so, it’s best to “speak directly to your creditors before you run into trouble,” said Greg McBride, chief financial analyst at Bankrate.com.

“That’s when you have the most options. The further behind you get, the fewer options exist,” he said.

Communicating your issue as early as possible can help. If your bill is due on the last day of the month, don’t wait to contact your servicer the day before, Schulz with LendingTree said.

If you contact them well in advance, you have more flexibility to explain your situation and negotiate a resolution, he said.

“Whenever you can go into one of these situations and offer up a solution … that can go a long way to making the conversation go a lot more smoothly,” Schulz said.

Cardholders can ask their card company to waive a late fee the first time they miss a payment, Schulz wrote in his book, “Ask Questions, Save Money, Make More: How to Take Control of Your Financial Life.”

But keep in mind that “the more often that happens, the less likely” the lender will offer a waiver, McBride said.

If you paid late once and there’s a high chance you will pay late again soon because of a financial issue, let the lender know, said Schulz.

“It’s one thing to go to the lender every other month and…