Late charge

 

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Late charge

A fee a lender imposes on a borrower when the borrower does not make a payment on time.

Late Charge

A penalty for failure to pay an installment payment on time. Usually not allowed as interest for tax deductions. May or may not be included as usury. If not, the amount of late charge is either set by statute or must be "reasonable."

Late charge

A charge imposed by a lender to a borrower when the borrower fails to make payment on the due date.

Late charge

A fee a credit grantor charges a borrower for a late payment.



Late charge

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