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Posted by Randy Ketcherside 1 year ago In:

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Randy Ketcherside
Randy Ketcherside Asked:

What is the legal rate of interest I can charge a customer for late payments

I live in Arizona and historically have not charged finance fees or late fees. However now I have customers who are 3-6 months bejhind on payments and feel I need to consider this as an incentive to pay. What is the legal rate of interest I can charge and what is the accepted finance charge?

 

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Ahtisham Ahmed
Ahtisham Ahmed Answered:

Its 2-4%.

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