Please be advised that we will be implementing a compounding interest charge on all overdue balances beginning with this billing cycle.
For some time now, we have only adopted a simple interest rate of 1.5% to minimize this expense to our clients. However, the time has come for us to adopt some industrywide standard measures of operations. The new format will be 1.5% monthly compounding interest rate, or an 18% compound annual interest rate.
If you have an outstanding balance, and would like to make a payment, please feel free to contact us at your earliest convenience. You may also contact us to set up a payment plan if you prefer, to avoid these late fees.