Late fees are charged when payment is not received by a deadline. These are supposedly intended to get people to pay rent or other charges on time, but these are sometimes exorbitant, or extremely out of proportion to the amount of money which is late. They can also add insult to injury for people who have hit hard financial times, making their situation worse. When added to credit card bills or check card statements, it may also cause an overlimit or NSF fee, creating an endless and inescapable cycle of fees that trigger other fees for people aleady stretched to their financial limit.
Read more about this topic: Fee
Famous quotes containing the word late:
“A glimpse through an interstice caught,
Of a crowd of workmen and drivers in a barroom around the stove late of a winter night, and I unremarked seated in a corner,
Of a youth who loves me and whom I love, silently approaching and seating himself near, that he may hold me by the hand,
A long while amid the noises of coming and going, of drinking and
oath and smutty jest,
There we two, content, happy in being together, speaking little,
perhaps not a word.”
—Walt Whitman (1819–1892)