I don't mean to criticize the idea... it sounds great if it will work for you.

I just don't think I could ever get my clients to sign an agreement like that.  The only ones that I really need it with are the ones that don't pay to begin with.  Even if they agreed to the terms - if they aren't paying their normal invoices, they probably aren't going to pay the interest either.

That is why I don't charge late fees.  I don't need to with most of the my clients and I don't see the point in adding additional fees to an invoice that a deadbeat client isn't paying.  The problem isn't what I charge... its what they don't pay.

Fortunately, we only have a few clients that are past-due and the amounts aren't all that much.  We have just been declining orders from any client with a past-due balance.  Seems to be working fine.

Best,
Robert A. Franco
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