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Old 07-31-2009, 01:44 AM
MowinginEureka MowinginEureka is offline
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Join Date: Apr 2008
Location: Eureka, CA
Posts: 238
Late fees in california, help?

I need a piece of paper that says I can legally charge a late fee in the state of california. I have an anal customer that says I cant because Im not a bank. Everyone of my vendors charges me 18% apr, or 1.5 % per month. That is what I have been charging for years.
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5X10 + 4x7 trailers w/ spring loaded ramps
99 F350 super cab long bed diesel 4x4
Two Honda HRC216 walk-behinds
2-Stihl KM130R' Kombi's w/ string trimmer,hedger pole-saw,+edger
Stihl MS210 chainsaw
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and a bunch of other equipment...
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Old 07-31-2009, 07:16 PM
bohiaa's Avatar
bohiaa bohiaa is offline
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Join Date: Jun 2005
Location: Bellville Texas, near Houston
Posts: 5,223
it's set by the feds. it gets real complicated on how to figure it out....

But 6% is about as high as you can go.

and NO you dont need a paper saying so.

HOWEVER, you do need it in writting as in a contract with the payers signiture.
this will prove that they not only are informed of the late fee, but they agree to it.
Dont even talk to people who cant purchase your product or service.........Dave Thomas.
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