At what point do you charge a late payment fee

[clorogue]

Just wondered in your policy what point do you charge a late payment fee? Do you charge it a day late, week late or 10 days late. Do you charge £5 a day? Just reviewing my policy. Would appreciate any feedback.

Thanks a million!

[EmmaReed84]

Just wondered in your policy what point do you charge a late payment fee? Do you charge it a day late, week late or 10 days late. Do you charge £5 a day? Just reviewing my policy. Would appreciate any feedback.

Thanks a million!

My late payment fee starts the day after it was due. I have bills to pay and cant afford late payments

[candy cat]

I put that it should go in account on the 1st....but I get one parent who uses edenred and it always goes in about 2nd 3rd....but she tops up too,so I ignore that as know its coming:) I had parent late by 3 days so did a polite text and another reminder for Jan......I would not hesitate to start charging though if parents started taking the mick :rolleyes:

[wendywu]

I dont mind the if the vouchers go in a couple of days late. I dont have a late fee. I get paid on the monday if they had not paid by wed then they would not get through the door :laughing:

[AliceK]

I charge from the 1st day it's late. I cannot afford to be messed around with money. Most of my parents have to have cleared payment to me on the last working day of the month. I have a couple of parents who get paid later in the month so they get until around the 3rd / 4th of the following month. I always put the date for cleared payment on the parents invoices so there is no arguement / confusion. I charge 10% per day late fees and have charged it to 2 parents last summer.

xxx

[francinejayne]

I charge £5 per day that they pay late.

My other parents do sometimes pay me late, but only by a day or 2 and it is unusual for this to happen, and I know I will get the money, and we have such a good relationship I don't feel the need to charge them.

I charged the one set of parents when our relationship was in the throes of breaking down - I ended our contract and then invoiced them the late payment charges and late collection charges (they consistently picked up their children late) - they owed a total of £160 and they paid!!!