On Dec 3, 2007 2:16 PM, Michael Madigan <[EMAIL PROTECTED]> wrote: > Has anyone instituted late fees in their billing? Is > there a magic number that works? I can charge > interest, but that doesn't assure promptness. >
Two things I've learned: First, you can get in trouble with local/state usury laws. In New Hampshire, no institutions other than banks and those registered with the state can charge over 10% annual interest. So, tacking on 1.5% per month could get you in trouble. Second, you attract more bees with honey than with vinegar. Raise your rates 10% and offer 10 Net 30 rates: 10% off your stated bill if paid within 30 days. Some people hate to spend money (pay your bills) but love to save money (paying your bill). Keep everyone happy. -- Ted Roche Ted Roche & Associates, LLC http://www.tedroche.com _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
