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The Frightening Cost of Late Payment

Published
January 10, 2007

I have a small business and I have been charging 20% interest on ALL late payment of invoices after the initial 30 days credit I allow.

QUESTION:

I have a small business and I have been charging 20% interest on ALL late payment of invoices after the initial 30 days credit I allow. My question is, can I still charge 20% and can I take legal action against a customer where they pay the original invoice amount but not the interest ?

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