Definitions for late fee
late fee

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1. Late fee

   A late fee, also known as an overdue fine, late fine, or past due fee, is a charge fined against a client by a company or organization for not paying a bill or returning a rented or borrowed item by its due date. Its use is most commonly associated with businesses like creditors, video rental outlets and libraries. Late fees are generally calculated on a per day, per item basis. Organizations encourage the payment of late fees by suspending a client's borrowing or rental privileges until accumulated fees are paid, sometimes after these fees have exceeded a certain level. Late fees are issued to people who do not pay on time and don't honor a lease or obligation for which they are responsible.

WikidataRate this definition:0.0 / 0 votes

1. Late fee

   A late fee, also known as a late fine or a past due fee, is a charge levied against a client by a company or organization for not paying a bill or returning a rented or borrowed item by its due date. Its use is most commonly associated with businesses like creditors, video rental outlets and libraries. Late fees are generally calculated on a per day, per item basis. Organizations encourage the payment of late fees by suspending a client's borrowing or rental privileges until accumulated fees are paid, sometimes after these fees have exceeded a certain level. Significant portions of the revenue of creditors, video rental outlets, and libraries alike come from the payment of late fees. Late fees are widely regarded as an annoyance. In 2005, video rental chain Blockbuster Video capitalized on this perception with a major advertising campaign that touted a revision of its rental policy as "The End of Late Fees". More recently, in 2006, Rogers Video has used the same technique, except only for movies, and without any restocking fee. Late fees charged by banks, landlords, and utilities have been heavily criticized as a penalty against the poor, and attempts have been made in some places to outlaw them completely or place caps on them. The argument against them is that the poor will inevitably be forced to pay them as they cannot earn the money to pay their bills by the due date. These people will be forced to pay even higher fees for the same services, and will find making future timely payments to their creditors even more difficult.

How to pronounce late fee?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say late fee in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of late fee in Chaldean Numerology is: 4

2. Pythagorean Numerology

   The numerical value of late fee in Pythagorean Numerology is: 9

Examples of late fee in a Sentence

1. Alphonzo Breland:

   My heart is always fluttering, my head is racing, my mortgage is due now, I have until the 15th and then I get a late fee. I had to cancel the tuition deduction for my daughter's school.

References

1. ^ Wikipedia
   https://en.wikipedia.org/wiki/Late_Fee
2. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=late fee