late payment

USAGE SUMMARY

"late payment" is a correct and usable term in written English.
You can use it to refer to a payment made after its due date. For example, "The tenant was penalized for the late payment of the rent."

✓ Grammatically correct

Academia

News & Media

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

Looking for a missing or late payment?

Massachusetts Institute of Technology

A description of any late payment fees.

Cornell University

What would my score be, absent the late payment?

The New York Times

(6)(B) or any late payment fee under par.

Cornell University

more than once with respect to a single late payment.

Cornell University

Some issuers may call for reasons unrelated to late payment.

The Washington Post

§ 354.5 Penalties for nonpayment or late payment of user fees.

Cornell University

Hey HSBC, is it ok if we levy some charges on you for late payment?

Independent

Third, people don't like to believe they will make a late payment.

The New York Times

A late payment charge will be assessed to any account that is not paid in full.

Columbia University

In addition, student accounts are subject to holds and late payment penalties may apply.

Stanford University

Expert writing Tips

Best practice

When discussing the consequences of "late payment", be specific about the penalties involved, such as late fees, interest charges, or impacts on credit scores. Always provide clear and concise information.

Common error

Avoid using "late payment" when you mean "non-payment". "Late payment" indicates the payment was eventually made, whereas "non-payment" means it was never made. Using the terms interchangeably can cause confusion.

Linguistic Context

The phrase "late payment" functions primarily as a noun phrase, often acting as the subject or object of a sentence. It refers to the action of paying an amount after the due date. Ludwig provides numerous examples where it is used to describe financial transactions and their consequences.

Expression frequency: Very common

Frequent in

News & Media

34%

Academia

33%

Formal & Business

16%

Less common in

Science

6%

Wiki

6%

Reference

5%

Ludwig's WRAP-UP

In summary, "late payment" is a common and grammatically correct noun phrase used to describe payments made after their due date. According to Ludwig, it is widely used across various contexts, including news, academia, and business. It's important to differentiate it from "non-payment", which indicates that a payment was never made. The consequences of a "late payment" can range from late fees and increased interest rates to negative impacts on credit scores. To avoid misunderstandings, it's best to be specific when discussing penalties and to communicate proactively with creditors if you anticipate a delay.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

overdue payment

Indicates a payment that has passed its due date, emphasizing the fact that it should have been paid already.

delayed payment

Focuses on the fact that the payment was not made on time, highlighting the delay itself.

missed payment

Emphasizes that the payment was not made at all when it was due.

past due payment

Similar to "overdue payment", stressing that the payment is now in the past and still not settled.

outstanding payment

Highlights that the payment is still owed and has not been completed.

payment arrears

Refers to the accumulated amount of payments that are late.

non-payment

Implies a complete failure to make the payment.

defaulted payment

Indicates a more serious situation where the payment is unlikely to be made, often with legal implications.

tardy remittance

A more formal way of saying "late payment", using the word "remittance" to refer to the payment.

delayed remittance

Using "remittance" instead of "payment" adds a layer of formality but maintains a similar meaning.

FAQs

How does a "late payment" affect my credit score?

A "late payment" can negatively impact your credit score, especially if it's 30 days or more past due. The longer the delay, the more significant the damage. Consistent on-time payments are crucial for maintaining a good credit history.

What are the typical consequences of a "late payment"?

Consequences can include late fees, increased interest rates, and a negative impact on your credit score. In some cases, repeated "late payments" can lead to more severe actions, such as the cancellation of a service or legal proceedings.

Is there a difference between "late fee" and "late payment"?

"Late payment" refers to the act of paying after the due date. A "late fee" is a charge imposed as a penalty for making a payment after the due date. The "late fee" is a consequence of the "late payment".

What can I do if I anticipate a "late payment"?

Contact the creditor as soon as possible to explain the situation and explore potential solutions, such as a payment plan or a temporary deferment. Proactive communication can sometimes help you avoid or minimize penalties.