Late Fee Calculator
Calculate late fee charges for payments. Understand how late fees, grace periods, and interest rates affect your total payment amount.
Step 1: Payment Details
Understanding Late Fees
Late fees are charges applied when a payment is not made by its due date. They can be fixed amounts, percentages of the original payment, or daily fees that accumulate over time.
Step 2: Fee Details
About Grace Periods
A grace period is the time after the due date during which a payment can be made without penalty. Late fees typically start accruing after the grace period ends.
Late Fee Calculation Results
Total Amount Due
Payment Type Comparison
| Payment Type | Typical Late Fee | Grace Period | Maximum Fee | Legal Limits |
|---|
Late Fee Analysis
Late Fee Formula
Total Due = Original Amount + Late Fee Calculation
The late fee is calculated based on the fee type selected. For fixed amounts, it’s added directly. For percentages, it’s calculated as a percentage of the original amount. Daily fees multiply by days late.
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