What to do if I have a debtor that is trying to charge me a late fee the day my payment is due?

I have a payment due to a debtor on the first with according to the promissory note is late after the 1st. He is trying to charge me a late fee including the 1st.

Asked on November 7, 2011 under Bankruptcy Law, Colorado


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I would write the creditor a letter in an attempt to resolve the dispute stating that the late payment can only be deemed late and assessed after the first of each month as stated in the written agreement and see what the response is.

I would continue making the payment and not pay any late fee for any payment made before the first of each month. Good luck.

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