The phrase "arrears charge" is correct and usable in written English.
It can be used in financial contexts to refer to a fee or penalty applied for overdue payments.
Example: "The landlord informed me that an arrears charge would be added to my rent if I did not pay by the end of the month."
Alternatives: "late payment fee" or "overdue charge".
To make it clear to lenders they must not include arrears charges when calculating a borrower's early repayment charge.
To make sure payments by customers in financial difficulties are allocated to clearing the missed monthly payments first, rather than to arrears charges.
Rent-to-own shops will still be able to charge for insurance and warranties on top of that, but the FCA said it would stop firms from increasing their prices for insurance premiums, extended warranties, or arrears charges, to recoup lost revenue from the price cap.
As for the word "guess", I would point out that his own, very funny, rewrite of my verse (for which I grant copyright permission in arrears without charge) does itself contain the words "good estimate", which is not a million miles (or 12bn light years) away from a guess.
Although specialist lenders appear to be the most aggressive when it comes to charging arrears fees, many mainstream banks also levy high charges.
Interest rates on mortgage arrears have been charged at up to 25%, with the European court of justice last month condemning some charges as abusive and illegal.
These included straightforward queries such as the name of the freeholder, the length of the lease, whether I was in arrears with service charges and details of the buildings insurance policy.
I have been charged maintenance arrears and late fees since July 2001.
Since they are owners, don't they have an obligation to pay monthly maintenance charges, including arrears?..
