Home – New Forums Money matters Charging Interest On Overdue Accounts

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    raynor
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    Is it legally enforceable to be charged 2% interest on overdue accounts?. Any advise would be appreciated.

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    LucasArthur
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    raynor, post: 191065 wrote:
    Is it legally enforceable to be charged 2% interest on overdue accounts?. Any advise would be appreciated.

    Howdy Raynor,

    Pretty sure this has been spoken about before (maybe do a quick search to reveal more info) although i am under the impression that it is possible, although it would be suggested that you refer to the original contract that you had your clients sign? is there a T & C’s attached to it that outlines the terms of payment? eg, if late by 30 days we will commence charging you xx%?

    I am guessing by your question that this may not be the case, outside of having it written i am unsure of the legalities of such a charge.. Especially if there are no set contracts in place outlining when payments are actually required?

    Cheers, let us know how you go.

    Jason

    Jason Ramage | Lucas Arthur Pty Ltd | E: [email protected]   P: 61 3 8324 0344    M: 61 412 244 888
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