Late fee amounts

Discussion in 'Lawn Mowing' started by Branchland, Jan 28, 2005.

  1. Branchland

    Branchland LawnSite Senior Member
    Posts: 354

    Is there a limit on how much you can charge on a late fee? I was thinking of charging 10%. What do you all charge? Is there a state limit?
     
  2. Lux Lawn

    Lux Lawn LawnSite Silver Member
    Posts: 2,267

    This year I am going to charge between $10-$15 late fee.
     
  3. chimmygew

    chimmygew LawnSite Senior Member
    Posts: 576

    I charge $10
     
  4. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    you can charge anything you want, as long as it is visible on the contract. i go 3% monthly, compounded, then i add extra for certified mail, court filing, appearence, etc.
     
  5. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569

    YES, each State sets the limits that you can legally charge.
     
  6. Branchland

    Branchland LawnSite Senior Member
    Posts: 354

    MMLawn,
    Do you happen to already know the amount in North Carolina? If not maybe the place to look?

    Thanx
     
  7. bobbygedd

    bobbygedd LawnSite Fanatic
    from NJ
    Posts: 10,178

    i am unaware of such laws. what is the maximum in your state. my accountant told me i can charge anything i want, as long as it's understood in the contract. if there is no $$$ amount in the contract, the maximum is 1.5%
     
  8. lawnguyland

    lawnguyland LawnSite Bronze Member
    Posts: 1,108

    Credit co's charge $29 so I figure you can go at least to there. I went from 15$ last few years to $20 this year although it is rarely enforced due to customer training.
     
  9. Branchland

    Branchland LawnSite Senior Member
    Posts: 354

    I was thinking of going with a percentage amount myself. Not sure which way will be better. Just don't want to charge too much if there are limits and have a customer call me on it. I like the customer training thing lawnguyland.
     
  10. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    Correct, 18% per annum.
     

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