I thought the 1.5% monthly late fee was too soft, then a $4,300 bill got paid in 6 days | Chasing Invoices - Freelance Forum - The Community for Independent Professionals
I thought the 1.5% monthly late fee was too soft, then a $4,300 bill got paid in 6 days
For a while I was adding a 5% late fee after 10 days and calling it a day. It never worked, people just got angry and paid slower. So in March I switched to a 1.5% fee that kicks in at 30 days and stacks each month. A restaurant in Portland owed me $4,300 and paid on day 36. The fee was only $64.50 but something about it being automatic made them move. What is the smallest late fee you have seen actually work?