Late Fees

Late Fee

An extra charge assessed on a person or organization if a payment is made after a stated date. For example, if the electric bill is due on the 12th and one pays it on the 15th, a late fee may be added. A late fee may be a flat amount or a percentage of what is owed.

Late Fees

Fees assessed by lenders when payments are late.

Late fees are usually 4% or 5% of the payment. A borrower with a 6% mortgage for 30 years who pays a 5% late charge every month raises his or her interest cost over the life of the loan to 6.46%.

References in periodicals archive ?
The candidates could submit the examination forms with late fees of Rs.
The Registrar, KU, Professor Dr Majid Mumtaz, mentioned that interested candidates could apply for BA, BSc, and BCom first year from January 07 to 28, with normal fees and after due date the admission forms could be submitted with the late fees of Rs500 till February 18 and Rs1000 would be charged till March 11.
Mashreq has indeed agreed to reverse the late fees and interest.
In order to avoid late fees and penalties, all assessment reports and payments must be submitted today Thursday, March 1, 2018.
Fremont Library Director Scott Davis said the board's decision was based partially on research that shows late fees don't encourage people to return materials faster.
"One property manager waived all of her late fees," Peggy' Powell, Education and Training Supervisor at B&M Management, says.
Consumers in UAE now have access to a card which combines zero per cent balance transfers, no annual membership fee, no cash advance fee, no late fees and no over-limit fee.
In February 2012, the Council of Ministers provided BGN 23 918 010 in payments for the 2007 a 2009 period, by which it reduced the losses in late fees for the State budget.
136 (2009), the Fourth Circuit upheld a 2008 Tax Court decision that Capital One could not retroactively change its method of accounting for credit card late fees even though it was on an improper method.
The Board of Trustees issued clear guidelines on the time-frame and the mechanism for the application of the administrative late fees for UAE residents under the authority granted by the Federal Cabinet to the Vice Chairman of the Board.
Comcast has agreed to pay up to $23 million to Oregon customers who were charged late fees from July 15, 2003, through Nov.
Late fees and balance transfer fees have also been removed from the package.