I am getting ready to send out contracts for this upcoming season and am thinking about increasing my late fees. Right now I only charge 2% compounded on payments 30 past due. What does everyone else charge? I didnít look into it fully yet so I donít know if there is a cap on how much you can charge legally but I am tired of waiting for payments and I think half the people donít mind paying 2% if it buys them some time. Like right now I have a snow removal customer that owes over a grand, and I feel that they are just going to wait it out and just pay me the $20 in late fees, itís not worth it anymore I have way too much overhead (especially with snow removal) to wait on money for months at a time. What does everyone think?
No announcement yet.