what is fair interest to charge on an overdue acount?

**studiocritic** · 05-03-2006, 09:32 PM

I'd say what I typically see on invoices I get is something like 3-4% past Net 30 terms.

If the invoices are typically for smaller amounts I like to do something closer to 10% per month.

**SleazyDream** · 05-03-2006, 09:33 PM

Originally posted by studiocritic

I'd say what I typically see on invoices I get is something like 3-4% past Net 30 terms.

If the invoices are typically for smaller amounts I like to do something closer to 10% per month.

what's a small amount?

**Niko Bimini** · 05-03-2006, 09:35 PM

I would agree 3-4% is good for 30 days past due.

But then bump to 6 or even 10% for 30-90 days.

Beyond 90 days you should send the leg breakers around for a visit

**Rebecca Love** · 05-03-2006, 09:35 PM

i would say 2-3%. but seriously, i dont know the standard.

**Rebecca Love** · 05-03-2006, 09:36 PM

Originally posted by Bimini

I would agree 3-4% is good for 30 days past due.

But then bump to 6 or even 10% for 30-90 days.

Beyond 90 days you should send the leg breakers around for a visit

yes that sounds about right. without all the leg breakers. lol

**KRL** · 05-03-2006, 09:37 PM

http://thomasanderson89.tripod.com/goodfellas3.wmv

**WiredGuy** · 05-03-2006, 09:41 PM

I believe 5% is the legal maximum (60% annually). I typically charge 1.5% per month or 18%. Basically making it comparable to a credit card debt.
WG

**After Shock Media** · 05-04-2006, 10:14 AM

Most I have been able to charge is 2% per month or 24% per year. Already listed in the contracts of course. Since I can not just add interest to an agreement at a latter date because I feel like it.
I have been told any much more and it would count as usury in my state.

**Morgan** · 05-04-2006, 10:15 AM

fixed or adjustable?

**Juicy D. Links** · 05-04-2006, 10:18 AM

lolllllll Pimpdog pay the man

**SleazyDream** · 05-04-2006, 10:36 AM

Originally posted by After Shock Media

Most I have been able to charge is 2% per month or 24% per year. Already listed in the contracts of course. Since I can not just add interest to an agreement at a latter date because I feel like it.
I have been told any much more and it would count as usury in my state.

i've always just done what i feel like in business

**Barefootsies** · 05-04-2006, 05:07 PM

Send Johnny Kneecaps instead.

**woj** · 05-04-2006, 05:16 PM

Originally posted by Juicy D. Links

lolllllll Pimpdog pay the man

what is fair interest to charge on an overdue acount?

what is fair interest to charge on an overdue acount?

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