Late Charges

If my note has a 15-day “grace” period, when would a late charge be assessed?

In this case, late charges would be assessed at the end of the day the 16th day after your due date.

For example: If your payment is due on the 1st of the month, a late fee will be charged if we have not received your payment by the 16th.

Please note that a payment is considered “past due” if it is not received by the due date.

How much time should I allow for my payment to reach ILS?

Most general mail delivery is received within 7 business days. The mail process can sometimes be unpredictable. It is the Borrower’s responsibility to ensure that payments are received in our office in a timely manner. We are not responsible for lost or late payments.

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