Ask a Lawyer: Debtor and Creditor Law

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fine interest rate

Kyle Federowich (Calgary)

Hi, I was issued a parking fine the other day and found that a late payment of $20 was applicable to a $40.00 ticket if it was not paid in 10 days and that went up to $75 if not paid in 30 days. I am pretty well off so I paid ASAP. However, I do understand that criminal interest rates are somewhere in the 60% area and these late payment schemes are effectively in the 200% to %1000 percent area far above that. Do municipalities have a special clause that lets them do this? It seems very punitive to a poor or transient element of society.

0 4 months ago

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