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Most company's have a late fee policy set in place at the beginning. Most company's set a percentage to charge the customer as the late fee on the balance due after a certain amount of time (usually if the balance is not paid in 30 days of invoice date).
For example a company may choose to charge a 5% Annual Percentage Rate calculated monthly on balance due. So if a person owes $1,000 to a company, they make a payment of $250 with in the 30 days (which is usually the average time a company gives, though some may give 14 days and even 7 days). After the time allotted, the customer paid the $250 towards the account leaving a balance of $750, the interest for the following month is calculated based on the remaining balance of $750.
To calculate it at this rate using 5% the equation is
$750x.05/12=3.125 (rounded to nearest cent) $3.13 for the month's interest on unpaid balance.
What else can I help you with?
What is the penalty for filing a late tax return?
Usually none if you don't owe-otherwise there could be late fees tacked on.
What does you made 30 percent net of fees mean?
"You made 30 percent net of fees" means that after deducting any associated fees or expenses, your profit or return on investment is 30 percent. This figure represents the actual gain you retain, providing a clearer picture of your earnings. Essentially, it highlights the effectiveness of your investment after accounting for costs.
What is miscellaneous fees?
Miscellaneous fees refer to various charges that do not fall under standard categories like tuition or specific service fees. These can include costs for activities, materials, late payments, or administrative services. They are often considered additional expenses that may arise in educational institutions, businesses, or other organizations, and can vary widely depending on the context. It's important for individuals to be aware of these fees to understand the total cost of their commitments.
How long can a company pursue you for an out standing debit?
A company can continue to collect from you indefinitely. As in, when you die, if you owe them money, they can collect from the executor of your estate, and get part of your life insurance policy. The best thing to do is to contact that company, and work out some kind of payment schedule with them, perhaps get them to work with you on lowering the interest rate, or disregarding any fees you may have accrued (ie: late fees, over-limit fees, etc)
What does plal mean on bank statements?
"PLAL" on bank statements typically stands for "Payment Late After Last." It indicates that a payment was received after its due date, which may result in late fees or interest charges. If you see this on your statement, it's advisable to check the transaction details for further context.
If you only owe late fees will the finance company charge off the debt and repossess the car?
It would probably be a better thing to try to figure out how to pay the late fees instead of how to get around them. That is because the entire issue of repossession goes away.
Are there any late fees on gamefly and how much per day?
no on the commercial it says no late-fees
Are credit card late fees tax deductible?
No, credit card late fees are not tax deductible.
Can late fees be charged by eye surgeons?
If their billing agreements call for it, late payment fees can be charged by anyone.
you keep returning my payments..then charging me late fees?
If the payment is received after the due date, late fees can be charged.
What credit cards offer no late fees as a benefit?
Some credit cards offer the benefit of no late fees.
What actors and actresses appeared in Late Fees - 2009?
The cast of Late Fees - 2009 includes: Saffron Cassaday as Girl
Can creditors charge late fees on a deceased person's estate when there is no spouse For example late condo association fees late mortgage payments etc.?
Yes.
Can you still be charged late fees and over-limit fees on accounts you close?
Yes, if you are over limit and you may be charged late fees unless you pay down to your limit.
What is the law on late charges and other fees charged by public housing?
Most Section 8 housing is exempt from late fees.
How can you prevent your payments on condo association dues being applied to late fees instead of dues?
Review your governing documents to determine when late fees are charged. When you pay your assessments on time, there is no late fee; when you pay your assessments late, you pay a late fee. Late fees incurred for paying your assessments late are debts that you owe. You may be able to negotiate with your board to reduce the amount of late fees you incurred, if you have special situations. However, the decision of the board is final.
Do car dealers charge late fees?
Yes, if you pay your car payment at a car dealers office they will charge a late fee. Anytime a payment is late, the dealer has a tight to charge late fees.
