Interests on payment due
2 years ago
I am a businessman who purchased goods on credit from company. I owe some amount to company and I am paying to company when I have funds available and I don't have any contract with company regarding paying them late. From few days I am not able to pay any amount to company. So can company charge me interest on the amount due?
A.Dear Sir,
Yes, the company may charge interest at the agreed rates or at the rate of 18% per annum. Better, to come to an settlement about the interest rate and payment terms.
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A.Dear client,
Even if there is no written agreement, the company may have said it orally to pay the payments within a particular time. So, they may use this and charge interest as per the days you have not paid on time so it is recommended to negotiate with them beforehand.
Thank you
Even if there is no written agreement, the company may have said it orally to pay the payments within a particular time. So, they may use this and charge interest as per the days you have not paid on time so it is recommended to negotiate with them beforehand.
Thank you
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