1. Welcome to PlowSite. Notice a fresh look and new features? It’s now easier to share photos and videos, find popular topics fast, and enjoy expanded user profiles. If you have any questions, click HELP at the top or bottom of any page, or send an email to help@plowsite.com. We welcome your feedback.

    Dismiss Notice

Late fees and Finance Charges

Discussion in 'Business Fundamentals' started by rawdog, Dec 1, 2008.

  1. rawdog

    rawdog Senior Member
    from Cape MA
    Messages: 124

    Since the last thread on this was inadvertently hi-jacked and then closed thought i would start a new once since i wasnt able to defend my statements...

    whats everyone charge? anyone know a rundown by state?

    In Mass it seems pretty open to interpretation (even though there is a suggested rate)...although im sure some will insist that the NYS attorney general sets the bar for everyone.
  2. Earthscapes

    Earthscapes Senior Member
    from WNY
    Messages: 577

    I don't charge late fees. NO PAY by the date stated, NO PLOW.
    Has worked for the last 10 years like this.

    Residentials have 2 choices- Pay in full or 2 payments. 95% pay in full.
    Commercials are billed monthly, but pay the first month up front.
  3. dirtmandan2

    dirtmandan2 Senior Member
    Messages: 275

    I charge a 25$ per month late fee as a small % on driveways = almost nothing... I don't know if that is legal, nor do I really care , but I will do it this way until i'm forced not to... and yes no pay , no plow...
  4. go plow

    go plow Senior Member
    Messages: 322

    here in connecticut i or we can only charge 1.5% per 30 days

    Messages: 47

    As long as they sign it there is no limit. Same as a credit card $39.00 a month late charge. 32.5% interest a year on outstanding balances.
  6. QuadPlower

    QuadPlower PlowSite.com Addict
    Messages: 1,056

    Stop plowing after 15 days late. Mine is not a percentage of the late amount. I think that can be limited. Mine is a dollar amount and I call it a "Administrative Fee"