We at the present time do not charge a late charge on our single pay consumer notes. But in the implementation of a new software program, the loan review added it just in case sometime we decide to charge one. I am unable to locate any where where this is a feasible thing to do. My personal opinion is no, why would you? Can anyone help?

Why wouldn't you? To me, it doesn't matter if they are late on an installment loan or a single pay. They are still late and they will be charged.

Be sure to check your state law before implementing.