Late payment policy

Hello,

I was wondering what was your policy concerning late payments?
Do you charge specific fees when parents forget to pay you?
What do you do to prevent it from becoming a habit?

:huh:

My weekly fee is due on Monday. I have a $5 a day late fee weekends included. No care is available the following Monday unless all the fees owing from the previous week are paid to me in cash at drop off. If child doesn't return at all that week which now means I have had no pay for two weeks I consider that their two week notice and am free to refill their space.

WOW!! Does it happen a lot??

I've had a couple of parents pay late because they forgot. But it has never been a pattern or habit for any of them. So, I haven't put a policy in place for that. If I did notice that it was becoming a habit for a certain family, then I would print off a seperate late payment contract for them to sign.

Good thing to think about!!! THANKS!

I have had a real bum as a parent. He's such a stoner and sometimes smells like pot. :rolleyes:He needs reminders to pay on time almost every month. I think I'm going to use the advice from this thread and give him his own late fee contract. Thanks for the great idea!

Mine is a $40 late fee per day. Make it a deterrant by making sure the fee is high, and no care provided until the payment is made.

same here as they pay post-dated monthly cheques at 6 months at a time and I keep the cheques locked away safely

I get paid 2 weeks in advance every second Friday morning. My late fee begins at noon on Friday of payday and is $20 per day. So no pay by noon on Friday an additional $20. I have had parents forget at drop off on Friday to bring their cheque. After paying an extra $20 at the end of the day because they forgot it usually never happens again. I had one mom do it twice but hasn't since. I also email everyone on Thursday giving them their total even if it's the same every time. I also have no problem asking Friday morning "do you have a cheque for me this morning"? I realize mornings can be crazy especially those with multiple kids. Usually cheque happens to be in the car.

Parents know I don't fool around with my pay. If they want their kid to eat here I need grocery money!!!