HomeTermsCompareFinance Late ChargeThe definition for Late Charge:A penalty for failure to pay an installment payment on time. Usually not allowed as interest for tax deductions. May or may not be included as usury. If not, the amount of late charge is either set by statute or must be "reasonable." Similar MatchesCarrying ChargesCarrying ChargesThe costs involved in keeping a property which is intended to produce income (either by sale or rent) but has not yet done so. Finance ChargeFinance ChargeA total of all costs imposed directly or indirectly by the creditor and payable either directly or indirectly by the customer, as defined by the federal Truth-In-Lending laws. Click to compare definitions of Late Charge Click to view definitions beginning la |