Loading…
7
Warning: I heard a guy at my gym say he waits 90 days to pay small vendors, and I saw red
So I'm at the gym last Tuesday, and this guy next to me on the bikes is laughing about how he strings along the little guys who do his landscaping and web work. He says he waits 90 days minimum because "they never charge late fees anyway." I almost fell off my bike. Here's the thing, that whole 90 day float trick only works because most of us don't put real teeth in our terms. Three phone calls and one certified letter are usually all it takes to get a check in 10 days flat. I started adding 3% monthly interest on anything past 30 days back in March, and suddenly my average pay time dropped from 45 days to 12. Has anyone else had luck with a late fee that actually sticks, or do people just ignore it and pay late anyway?
1 comments
Log in to join the discussion
Log In1 Comment
dakota_miller938d ago
Added 2% monthly late fees to my contracts last year and it actually works, cut my wait time in half.
4