Late fees

I charge a late fee but only if it is like a month after the payment is due. The late fee is about 5% to 10% depending on how long the client took to pay off the balance for the month.
 
Anyone given bad credit to a customer/past customer for non-payment?
I would think dedicated server companies may do not, but maybe not many hosting companies would do this if customers only have small invoices due.
It would be more hassle than it's worth.
 
Given bad credit...you mean "reported their late payments to a credit reporting service"? Not yet; but I have one client whose regular late payments are starting to get on my nerves. I may look into this in the future. If they're chronically late with their hosting site - which is a microbusiness, BTW, not a personal or blog site - what else do they routinely let slide?
 
The problem with running credit on customers is that you are going to need their SS#. Most people wont even consider hosting with you if you have their SS# becuase they dont want to give it out.

I have a huge problem with the whole credit system. The only people that should ever need your SS# is the government. I hate now every time I want to sign up for a cell phone, get my utility bills hooked up that they ask me for my social security number. Lets see... I give the wrong person my government name, billing address, social security number... no wonder there is such a huge problem with identity theft. People ask for SS# numbers way to much so many Americans (and other countries who have similar methods) give it out freely thinking its not a big problem.

So since I have a huge problem with this (I dont give out my SS#) many utility companies deny me for service. That doesnt effect me though, I just write their managers office and complain and state my opinion on them needing my social. Normally most companies will replace your social sec. number with a credit card. They just want to make sure they get paid.

Credit is personally way to F*cked up in my opinion. The only people that need to know your financial information is your bank. You bank can give you loans for everything you need. Yes it may take more time to get the loan approved rather than walking into a new car play and signing up for the 2.9% finance option and being approved in 2 minutes.

So anyway this post turned out into a big thing with me again. Sorry to go on and on about the whole thing. Its just a touchy topic with me. I hate it. Oh and one more bit of complaining before I finish.... I absolutely hate the fact that Car insurance is now based off of your credit report. That is complete BS. It should only be your driving record...what does driving a car have to do with your financial situation. What is the point in driving the price 100-200% higher is someone has bad credit... you are just turning business away. Many people mess up financially. It should mean you pay more than others for 5-10 years.
 
Oh I wanted to mention that the whole argument that I made above...isnt over me having bad credit... its over the idea that credit controls peoples lives. I think its garbage and I do a lot of debating on it in class :)
 
I charge late fees for payments being late after a really long time. Like if the payment is only a day late, then no late fee, but if it's a week+ late, then there is a late fee.
 
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