My State is Hawaii
Our HOA Bylaws 'only' state a late fee, of $50, will be charged if the monthly fees are received after the 15th of the month. It does not subtract the late fee from the monthly fee, nor does it state any penalty for an unpaid late fee.
Our manager, who records the payments, frequently does NOT record payments the day he receives them, which I suspect is to unfairly collect late fees. The office staff is not allowed to 'log' the date they receive them.
I have a late fee I chose not to pay because I mailed it in plenty of time. It should NOT have been late. It was logged 10 days later.
I receive a monthly statement, which does not have a running balance, just the amount of the next payment. ALL my payments are on time since then, and recorded as such, but I am charged a $50 late fee every month ONLY for that first unpaid late fee.
Without our bylaws stating they can charge a late fee 'only' for an unpaid late fee, (the first being a $50 charge on $50 owed) isn't that against the law?
I have researched HI Condo Law and it doesn't mention this case so I thought Fed. law would cover this with the fair credit billing act. or The Credit Practices Rule.
It also seems excessive to charge $50 late fee for a $50 debt.
Can you help guide me to the proper set of laws that apply since the bylaws don't state anything about recharging late fees over and over
Thanks!.What is the name of your state?