Late fees on payment plan ok?
Date: Mon, 05/02/2011 - 12:33
Hello,
I am currently working with an agency and paying off my balance with a payment plan.
I was just wondering, can I be charged a fee for a late payment?
The settlement letter I received says at the bottom, "late payments are subject to a $5.00 per day fee (up to $10.00 per month) if 24 hour notice is not given.
I asked the collector and he said its mostly so people who mail in payments are faithful to their due date and give them notice before hand if they need to move something.
I was just curious if this is a normal practice as this is my first time working with a collector.
Thanks
I am currently working with an agency and paying off my balance with a payment plan.
I was just wondering, can I be charged a fee for a late payment?
The settlement letter I received says at the bottom, "late payments are subject to a $5.00 per day fee (up to $10.00 per month) if 24 hour notice is not given.
I asked the collector and he said its mostly so people who mail in payments are faithful to their due date and give them notice before hand if they need to move something.
I was just curious if this is a normal practice as this is my first time working with a collector.
Thanks
If you are late on your payments, then you can be charged late f
If you are late on your payments, then you can be charged late fees by the agency. If you know beforehand that you will be late for your payments, then you should intimate the agency prior to your payment date. In such a situation, you may not be charged late fees.
