Q: Can a single member LLC be charged a late fee for making a payment on a saturday when the due date was that same day?
I paid my credit card payment electronically on the 25th when it was due which also fell on a Saturday. I was charged a $75 late fee because the company does not accept payments on Saturdays and Sundays so it wasn't processed until the 27th which was on Monday. This credit line is under my single member LLC. The supervisor said that I waived my rights to weekend payments, but is this allowed?
A: Being a single member LLC wouldn't change whether or not the late fee can be assessed on the company. It sort of depends on the contract you signed requiring you to pay in the first place to determine whether or not the late fee was properly assessed.
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