Any repercussions for paying your maintenance fees a few days late?

[MOXJO7282]

My credit card closing date is 2 days after the due date for my huge Marriott MFs bills. It would be nice to pay a pay the bills 2 days late to have an extra month to pay the bills in full.

Has anyone had any experience paying their MFs a few days late? Were there any late fees for paying a few days late?

 

[Maplel33s1e#]

There might be a small late fee involved, but it's usually not too hefty.

 

[dougp26364]

You’ll be fine. My bet is there will be more late payments this year with the hefty fee hikes. Maybe if late payments go up enough they’ll get the hint that owners aren’t an unlimited source of money

 

[vail]

they give you your week 2 days late...

 

[StevenTing]

I want to say it was a $25 late fee.

 

[daviator]

I always assumed that one of the reasons they made the due date so close to the beginning of the year is that many people will be late in paying because of holidays, travel, etc. and this will allow them to charge late fees and supplement the income they receive. In other words, I think they intentionally pick an inconvenient due date.

 

[dioxide45]

In another thread it was mentioned that you may be able to adjust the close date on your statement.

 

[bazzap]

The late fees vary by resort (region?)
For our European MVC resorts, they say
Q: WHAT HAPPENS IF MY PAYMENT IS LATE?
A: Your prompt payment is greatly appreciated as this will help us manage operating expenses. If payments are not received by the due date, a late fee will be assessed per week billed. This late fee is calculated at either €60 per week billed or as otherwise determined by your Holiday Ownership Purchase Agreement. You may be subject to further charges if your Maintenance Fees remain unpaid.

 

[NboroGirl]

In another thread it was mentioned that you may be able to adjust the close date on your statement.

I was going to suggest the same thing. Just move up the date of your credit closing to before the maintenance fees due date. You can always change it back. You should be able to do it online.

 

[GrayFal]

Just looked yesterday.
$25 late fee plus 18% penalty.

That said, 2021 I literally forgot to pay and was getting emails with payment requests I was ignoring because of course I paid.

Once I realized they were right, I paid in March with only the $25 late fee.

 

[Superchief]

Has anyone actually been charged a late fee for a payment being 2-3 days late for a US based MVC resort? I've paid 2 days late a few times in the past and haven't been charged a fee. The website wasn't working for one of those occurrences, so you can always use that as an excuse.

 

[dioxide45]

Has anyone actually been charged a late fee for a payment being 2-3 days late for a US based MVC resort? I've paid 2 days late a few times in the past and haven't been charged a fee. The website wasn't working for one of those occurrences, so you can always use that as an excuse.

From what I understand, based on a past BOD meeting I attended, they will assess the late fee but won't make any attempt to collect it in the current year. When you get your bill the next year, it would include the fee. Of course they may have an internal undisclosed grace period where they don't charge the fee until so many days late. Usually a grace period means people won't pay it till closer to the late fee date. Many people do this with their mortgage. Due on the 1st, but not late till the 15th.

 

[Superchief]

From what I understand, based on a past BOD meeting I attended, they will assess the late fee but won't make any attempt to collect it in the current year. When you get your bill the next year, it would include the fee. Of course they may have an internal undisclosed grace period where they don't charge the fee until so many days late. Usually a grace period means people won't pay it till closer to the late fee date. Many people do this with their mortgage. Due on the 1st, but not late till the 15th.

I have not yet been assessed a fee the following year. I would think that the late fee would automatically be added when paying on the MVC website.

 

[dioxide45]

I have not yet been assessed a fee the following year. I would think that the late fee would automatically be added when paying on the MVC website.

It would be. Thus I suspect an internal, unspecified, grace period. But it is always a situation of YMMV.

 

[bazzap]

I have only once ever, almost 10 years ago, been subject to a potential late fee.
It was for Phuket when online payment was not possible, there were problems communicating with the Cork office and the US office took my card details to fax across for the payment but it never arrived.
So when finally sorted, it was some 10 days overdue, but not unreasonably in this instance they waived the late fee.

 

[Dean]

I too have had a situation where there was miscommunication and a late fee was added but later easily removed.

 

[Superchief]

Last year I actually made two payments that were 4 days late due to problems with MVC website. I wasn't charged any late fee, but they may have been aware of the website problems at that time.

 

[MOXJO7282]

Yeah it seems they will ding me for sure and with the number of units I have it will add up so its not worth the headache.

 

[TXTortoise]

My guess is the software is looking at the date funds are posted from you bank, which is likely two days after the 'due date'. If funds aren't there by 'due date' + X days then they charge the late fee.

Joe, just figure what 4% annual interest is on your total bill is for one month... I'd move my CC closing date for next year. ;-)