what is the maximum late fee penalty allowed in your state?

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Rafa-L

New Member
Oct 18, 2008
601
3
0
Wilmington, DE
Real Name
Rafael
Business Location
United States
#1
what is the maximum late fee penalty allowed in your state for either residential or monthly commercial accounts receivable?
 

Jason Whaley

Super Moderator & TMF Carpet Cleaning Specialist
Nov 13, 2008
4,829
32
48
Durham, North Carolina
www.acarpetcleaning.net
Real Name
Jason Whaley
Business Location
United States
#4
Less than 10 times..... I don't really have any slow payers anymore. I had one last year and I collected 8 months worth of 10% late fees with the help of a lawyers letterhead. The late fees alone were as much as the original bill.

It is stated on every bill!

ALL PAST DUE ACCOUNTS ARE RESPONSIBLE FOR 10% SERVICE CHARGE PER MONTH PLUS COST OF COLLECTION INCLUDING ATTORNEY FEES

Its more of a scare tactic than anything else and I will let people slide for a reasonable time frame such as 10 - 20 days over the 30 on my commercial accounts. All of my residential is COD. They have never paid a late fee.
 
Sep 1, 2009
25
1
0
Real Name
Rob Strebler
Business Location
United States
#5
There is no maximum in my state, but the charges must be "reasonable."
 
Jun 18, 2008
2,578
6
0
Real Name
Glide Pro
Business Location
United States
#6
Great if you can get it. Here the late fee is limited to 2.5% per month(30% per year) by law. Only ones that have found a way around that are the pawnshops and the Payday loan shops. They average 500% or so. lol:eek:
 
Aug 2, 2009
203
0
16
edinburgh
Real Name
tony
Business Location
United Kingdom
#7
i need to start charging. i have only ever had a few late payers. but at the moment there's one bar owner that is taking the pi**! its been 3 months now!
 

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