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.
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Famous quotes containing the word late:
“We all end up living secret lives. We create what we are willing to admire and admiring what we shouldn’t confess to the secret of our own sin, our own insufficiency, our own sadness. We all end up taking our secrets into the world and handing them over to strangers, only to realize it’s often too late to claim them back. The very nature of time passing is sad beyond words. Memories mean they’re gone.”
—Alexander Theroux (b. 1940)