what is fair interest to charge on an overdue acount? - GoFuckYourself.com

SleazyDream · 05-03-2006, 10:06 PM

curious - what is fair interest to charge on an overdue account?

no interest
1% per month
2% per month
3% per month
4% per month
5% per month
6% per month
7% per month
8% per month
9% per month
10% per month
more

I'm inclined to charge 4%....

thoughts?

studiocritic · 05-03-2006, 10:32 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, 10:33 PM

Quote:

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, 10:35 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, 10:35 PM

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

Rebecca Love · 05-03-2006, 10:36 PM

Quote:

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, 10:37 PM

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

WiredGuy · 05-03-2006, 10:41 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, 11:14 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, 11:15 AM

fixed or adjustable?

Juicy D. Links · 05-04-2006, 11:18 AM

lolllllll Pimpdog pay the man

SleazyDream · 05-04-2006, 11:36 AM

Quote:

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, 06:07 PM

Send Johnny Kneecaps instead.

woj · 05-04-2006, 06:16 PM

Quote:

Originally Posted by Juicy D. Links

lolllllll Pimpdog pay the man

05-03-2006, 10:06 PM	#1
SleazyDream I'm here for SPORT Industry Role: Join Date: Jul 2001 Location: Phone # (401) 285-0696 Posts: 41,470	what is fair interest to charge on an overdue acount? curious - what is fair interest to charge on an overdue account? no interest 1% per month 2% per month 3% per month 4% per month 5% per month 6% per month 7% per month 8% per month 9% per month 10% per month more I'm inclined to charge 4%.... thoughts? __________________ This dog, is dog, a dog, good dog, way dog, to dog, keep dog, an dog, idiot dog, busy dog, for dog, 20 dog, seconds dog! Now read without the word dog.

05-03-2006, 10:32 PM	#2
studiocritic Confirmed User Join Date: Jun 2005 Location: Irvine, CA Posts: 2,442	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. __________________ 254342256

05-03-2006, 10:35 PM	#4
Niko Bimini Confirmed User Join Date: Feb 2004 Location: Vast Desert Wasteland aka Phoenix Arizona Posts: 2,372	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 __________________ ... ICQ# 264612090 Proudly hosting with www.MOJOHOST.com

05-03-2006, 10:35 PM	#5
Rebecca Love Skinemax BQueen Industry Role: Join Date: Jul 2004 Location: Las Vegas NV Posts: 2,145	i would say 2-3%. but seriously, i dont know the standard. __________________ Kisses, Rebecca Love "Skinemax BQueen of Late-Nite" www.RebeccaLove.com

05-03-2006, 10:37 PM	#7
KRL Entrepreneur Join Date: Oct 2002 Location: USA Posts: 31,429	http://thomasanderson89.tripod.com/goodfellas3.wmv __________________ If you would like to develop your domains, you can lease inexpensive foreign labor from the leaders in the field at iWebmasters.com TO LOWER YOUR COSTS AND INCREASE YOUR PRODUCTION! * * * * * * * * * * * * Domains Adult News KRL's Newsletter Biz Tips Just Listed Domains

View Poll Results: What kind of MONTHYLY compound interest rate is fair on an overdue account?
no interest	0	0%
1%	2	16.67%
2%	2	16.67%
3%	1	8.33%
4%	1	8.33%
5%	1	8.33%
6%	2	16.67%
7%	0	0%
8%	0	0%
9%	0	0%
10%	1	8.33%
more than 10%	2	16.67%
Voters: 12. You may not vote on this poll

05-03-2006, 10:41 PM	#8
WiredGuy Pounding Googlebot Industry Role: Join Date: Aug 2002 Location: Canada Posts: 34,482	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 __________________ I play with Google.

05-04-2006, 11:14 AM	#9
After Shock Media It's coming look busy Join Date: Mar 2001 Location: "Ph'nglui mglw'nafh Cthulhu R'lyeh wgah'nagl fhtagn". Posts: 35,299	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. __________________ [email protected] ICQ:135982156 AIM: Aftershockmed1a MSN: [email protected]

05-04-2006, 11:15 AM	#10
Morgan Too lazy to set a custom title Industry Role: Join Date: May 2002 Location: Corona Del Mar, CA Posts: 10,520	fixed or adjustable? __________________ PornstarPlatinum.com \| TransErotica.com

05-04-2006, 11:18 AM	#11
Juicy D. Links So Fucking Banned Industry Role: Join Date: Apr 2001 Location: N.Y. -Long Island -- Posts: 122,992	lolllllll Pimpdog pay the man

05-04-2006, 06:07 PM	#13
Barefootsies Choice is an Illusion Industry Role: Join Date: Feb 2005 Location: Land of Obama Posts: 42,635	Send Johnny Kneecaps instead. __________________ Should You Email Your Members? Link1 \| Link2 \| Link3 Enough Said. "Would you rather live like a king for a year or like a prince forever?"