Anthony Silva
2006-10-08 14:32:22 · 6 answers · asked by Anonymous in Social Science ➔ Other - Social Science
EXTORTION
n 1: an exorbitant charge 2: unjust exaction (as by the misuse of authority); "the extortion by dishonest officials of fees for performing their sworn duty" 3: the felonious act of extorting money (as by threats of violence)
so when was the last time the credit card companies or banks threatened to break your legs?
2006-10-08 15:08:33 · answer #1 · answered by PKCJR 2 · 1⤊ 0⤋
How do you get people to pay on time then? I think decent companies should give people a grace period. Also, I think late charges shall be reasonable compared to the effort the creditor has to drive in the money.
Late charges are not the worst part of paying late: For example, if it is a credit card, they yank your interest rate way up, sometimes to 30%. Now THAT's extortion!
2006-10-08 21:43:08 · answer #2 · answered by Ivan 5 · 0⤊ 0⤋
No, because if someone lends you money, they have a right to expect to get paid on time. You also agree to pay late charges when you sign the papers for a loan/ credit card or whatever
2006-10-08 21:41:43 · answer #3 · answered by xjoizey 7 · 0⤊ 0⤋
No, even though I always end up paying it is a way to get their stuff back by the time someone else wants to use it, and a way for them to not lose money. If you are like me that always forget datelines you better get a huge calendar and mark it there.
2006-10-08 21:42:14 · answer #4 · answered by JC Gallegos Style comes standard 2 · 0⤊ 0⤋
Especially when the company sits on the payments to delya them
2006-10-08 21:42:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Here's an idea, don't spend money you don't have, then you won't have to worry about late fees.
2006-10-09 09:11:58 · answer #6 · answered by hightechredneck 2 · 0⤊ 0⤋