Late Fees Research Articles

Eligibility Study of Targeted Electricity Subsidies Using DBSCAN on 450 VA and 900 VA Households at PLN UP3 Bandung

PT PLN (Persero), a State-Owned Enterprise (SOE), is mandated by Law No. 30/2007 on Energy and Law No. 30/2009 on Electricity to provide subsidy funds for the poor. The objective of this study is to analyze eligibility criteria for electricity subsidy recipients for customers using 450 VA and 900 VA power groups, to target the electricity subsidy program better. The data used is postpaid customer data from UP3 Bandung in September 2023. The variables used are the amount of electricity consumption, the number of bills, late fees, installment fees, and 50 other variables. The method used in this research is DBScan Clustering which is applied to each power group. Within each group, we analyzed two normalized versions of the dataset standard version and the minmax version. Furthermore, to assess the optimal clustering results, we integrated various metrics, including the Davies-Bouldin Index and Silhouette Score with visual assessment. After that, the best factor suggestions were sought through decision trees, by performing different decision tree classifiers for each power group, using normalized versions of cluster labels. The results showed that among the 50 features available in the raw dataset, it was successful in identifying key features, such as late fees, installment fees, electricity consumption, and bill charges to be important criteria

Unrelated Parallel Machine Scheduling Problem Considering Job Splitting, Inventories, Shortage, and Resource: A Meta-Heuristic Approach

This research aims to study a real-world example of the unrelated parallel machine scheduling problem (UPMSP), considering job-splitting, inventories, shortage, and resource constraints. Since the nature of the studied optimization problem is NP-hard, we applied a metaheuristic algorithm named Grey Wolf Optimizer (GWO). The novelty of this study is fourfold. First, the model tackles the inventory problem along with the shortage amount to avoid the late fee. Second, due to the popularity of minimizing completion time (Makespan), each job is divided into small parts to be operated on various machines. Third, renewable resources are included to ensure the feasibility of the production process. Fourth, a mixed-integer linear programming formulation and the solution methodology are developed. To feed the metaheuristic algorithm with an initial viable solution, a heuristic algorithm is also fabricated. Also, the discrete version of the GWO algorithm for this specific problem is proposed to obtain the results. Our results confirmed that our proposed discrete GWO algorithm could efficiently solve a real case study in a timely manner. Finally, future research threads are suggested for academic and industrial communities.

Who is paying all these fees? An empirical analysis of bank account and credit card fees

Banks impose a variety of account fees, and credit card issuers impose a variety of fees related to card usage. Using detailed data from a 2021 representative diary survey of US consumers, we investigate whether lower-income consumers and Black consumers are more likely to pay bank account or credit card fees, and how payment behavior varies depending on paying such fees. We find that the probability of paying several types of bank account and credit card fees is correlated with consumers’ demographic and income attributes. The percentage of Black consumers who pay overdraft or low-balance fees on their bank accounts or pay late fees or cash-advance fees on their credit cards is higher than the percentage of White consumers who pay those fees. We find that some fees on bank accounts and credit cards are regressive: lower-income consumers are significantly more likely to pay overdraft, bounced check, or late fees. While Black consumers were significantly more likely to pay any bank account fee, the race effect was smaller when controlling for income in the regressions.

Relevansi Aplikasi Peer To Peer (P2P) Lending Student Loan pada Mahasiswa dalam Lingkup Hukum Islam

Advances in financial services technology in the form of Peer to Peer (P2P) Lending have had an impact on facilitating the public in financing activities and have penetrated all sectors, one of which is the education financing sector in tertiary institutions in the form of Student Loans. This study aims to analyze the contracts contained in P2P Lending Student Loans. This study uses qualitative methods by reviewing previous literature. The results of this study are that the credit agreement on P2P Lending Student Loans has a Qardh contract in it. However, in the Qardh contract, there are conditions for the addition of both additional loan principal and late fees that are given if the borrower cannot repay the loan in accordance with the agreement which is prohibited by Islamic law.

Development of Web-based Application for Private School Tuition Fee Management with Prototyping Model

Private schools need help in handling school fees and financial processes. Traditional manual payment systems result in data processing issues, delayed financial reporting, and complications from misplaced records. Late fee payments threaten school income, which is crucial for staff salaries. Modern solutions are imperative. Desktop applications have limitations, requiring installation on specific devices, leading to compatibility concerns. This research opts for a web-based application. It employs prototyping models and predictive abilities using the Naïve Bayes algorithm. The web-based application aims to streamline fee management and predict payment delays, enhancing financial transaction management while prioritizing data security through database encryption. This web-based solution aligns with private schools' operational needs, simplifying payments and increasing late payment prediction accuracy. Extensive black-box testing validated its suitability, satisfying administrative staff needs. Four test cases gained administrative team approval. This innovation empowers private schools to optimize operations and financial management. In summary, the research tackles critical financial challenges private schools face by introducing a web-based application that simplifies payment processes, enhances accuracy in predicting late payments, and aligns seamlessly with administrative needs.

PRESEPSI DEVELOPER PROPERTI SYARI'AH TERHADAP PEMBIAYAAN KPR AKAD MURABAHAH PADA PERBANKAN SYARI'AH DI KOTA KENDARI

This study aims to analyze the perceptions of property developers towards the practice of murabaha contract KPR financing in Islamic banking in Kendari City. Qualitative research with an explanatory approach with an in-depth interview method with informants, namely Islamic property developers who run a house buying and selling business in Kendari city, resulted in research conclusions showing that Islamic property developers perceive the practice of murabaha contract KPR financing in Islamic banking to contain several problems. From the aspect of the perpetrator, it is considered that it does not fulfill the pillars of buying and selling; when the transaction agreement, the fact that a house has been sold that has not been owned, financing by the bank is more accurately called a loan contract than a sale and purchase so that the margin is more like usury; the use of the house (the object of buying and selling) as collateral has violated the principle of transferring ownership; late fees are the same as usury; and the application of life and fire insurance contains gharar, speculation, violates the principles of tabarru' and dhaman, and there are two contracts in one transaction.

Analisis Hukum Ekonomi Syariah Mengenai Online Marketplace Shopee (Studi perbandingan Akad Qardh, Fatwa DSN No 19/DSNMUI/IV/2001 dan ketentuan perjanjian Fitur "SPinjam")

This study aims to determine how the Qardh Akad Analysis in the SPinjam Feature on the Shopee Application. Shopee Pinjam (SPinjam) is an online cash loan product that offers loans with a fast, safe, minimal risk and unsecured process. So that SPinjam becomes an alternative for people who need funds. because Indonesia is a majority Muslim community, this Marketplace must be adjusted to Sharia provisions. There is no Fatwa specifically related to the Marketplace. The formulation of the problem in this study How is the mechanism of Terms and Conditions of Shopee Pinjam Services for Loan Recipients on the Shopee Application, How is the Analysis of the Conformity of Qardh Akad with the Terms and Conditions of Shopee Pinjam Services for Loan Recipients on the Shopee Application and How is the Analysis of DSN-MUI Fatwa No: 19/DSNMUI/IV/2001 with the Terms and Conditions of Shopee Pinjam Services for Loan Recipients on the Shopee Application.This type of research is library research, the data analysis method uses normative descriptive methods, uses a fatwa approach and inductive thinking. The results of this study indicate that: Users of the SPinjam feature in the Shopee application are Shopee application users who have reached the gold member level with a certain credit limit. The loan consists of a disbursement fee of 1% monthly installment fee (5%/month) and a monthly SPinjam protection fee (0.25%/month). The conformity between DSN MUI Fatwa No.19/DSN-MUI/IV/2001 and the SPinjam Terms and Conditions of Service document can be concluded that it is not fully in accordance with the provisions of sharia principles. The conflicting points of the SPinjam Document are related to the following; loan repayment system in the form of credit, late fees, loan interest, risk of credit failure for borrowers and dispute resolution institutions

Ziyadah Dalam Transaksi S-Paylater di Aplikasi Shopee Perspektif Maqasidus Syari’ah

S-Paylater is one of Shopee's sought-after features because it allows Shopee users to purchase items whenever desired without immediately burdening their financial condition. Essentially, users buy items on Shopee and pay for them at a later date, often phrased as 'buy now, pay later.' However, in practice, S-Paylater entails certain additional fees or interest ('ziyadah'), causing the prices of items through Paylater to be higher compared to cash purchases. Consequently, the legality of S-Paylater has sparked considerable debate among scholars. This article aims to bridge that debate by examining and assessing each instance of 'ziyadah' in S-Paylater transactions. The research conducted falls within the realm of qualitative field research, utilizing the Maqasid Shariah theory. The research findings indicate three types of 'ziyadah' in S-Paylater transactions: a 1% 'ziyadah' and an approximately 2.95% 'ziyadah,' both of which are considered permissible as they align with Shariah principles such as mutual consent, absence of speculation, and the absence of riba. However, a 5% 'ziyadah' imposed as a late fee is deemed impermissible due to its violation of Shariah principles, specifically riba. Nevertheless, instances of this late fee are rare and avoidable. Therefore, fundamentally, the practice of S-Paylater constitutes a legal and permissible transaction.

Objective Financial Knowledge, Subjective Financial Knowledge, and Credit Card Mismanagement: Does Overconfidence Hurt?

This article examines the association between objective and subjective financial knowledge and four types of credit card mismanagement as measured by making minimum payments only in some months, incurring late fees, being over the limit, and taking cash advances. The results of the probit regression models using data from 2018 to 2021 National Financial Capability Study reveal that the relationship between subjective financial knowledge and credit card mismanagement is generally convex instead of monotonic. This study contributes to the current literature by finding that subjective financial knowledge is positively associated with credit card mismanagement. The results also show that objective financial knowledge is negatively related to credit card mismanagement. Overconfidence about financial knowledge is positively associated with credit card mismanagement. Having fewer credit cards and setting aside a 3-month emergency fund lower the probability of mismanaging credit cards.

Is Digital Credit Filling a Hole or Digging a Hole? Evidence from Malawi

Abstract Digital credit has expanded rapidly in Africa, with opaque loan terms amidst low consumer financial literacy. Rich data from Malawi shows substantial demand for a digital loan with a base interest rate of 10% over 15 days, yet most borrowers are not aware of loan terms, repay late and incur substantial late fees. Regression discontinuity analyses show no evidence that access to small digital loans harms consumers’ perceived well-being. A short, randomised, phone-based financial literacy intervention improved knowledge, but did not increase timely loan repayment and modestly increased loan demand, ultimately increasing the likelihood of ever defaulting.

Reflection on the First Offense Exemption Clause of the Crime of Tax Evasion in China

The first offense exemption clause of the Crime of Tax Evasion in China embodies the normative purposes of both guaranteeing the national tax revenue, maintaining the order of tax collection and administration, and displaying the modesty of criminal law, and setting up the “Golden Bridge” for the actor to retreat. The provisions of the first offense exemption clause only apply to the taxpayers who have evaded a large amount of taxes but not to the withholding agent. This not only has legal basis, but also in line with the needs of reality. The first offense exemption clause can only be applied to taxpayers if they have committed tax evasion under Paragraph 1 of Article 201 of the Criminal Law of the People's Republic of China and they have accepted the orders of the tax authorities for correction and administrative punishment, moreover, the extent of back-payment of taxes, late fees and fines, and the subjective attitude of accepting administrative punishment will affect the application of the exemption clause for first-time offenders. The first offense exemption clause of the Crime of Tax Evasion is faced with loose applicable conditions, which does not fully reflect Criminal Policy of Temper Justice with Mercy, which shows that the administrative power has arrogated over the judicial power and gradually evolved into the applicable predicament of a “Get-out-of-jail-free card”, in order to solve the dilemma of its application, it is necessary to improve its application conditions, increase the amount of tax evasion in different proportion, clarify the powers of various organs, and ensure the seamless connection of the two-way linking mechanism between administrative law enforcement and criminal justice, at the same time, further normative interpretation and in-depth excavation of the first offense exemption clause of the Crime of Tax Evasion of the legal basis to solve practical problems.

The Prediction of Late Tuition Fees at Muhammadiyah University of East Kalimantan Using the Logistic Regression Method

Muhammadiyah University of East Kalimantan in carrying out its operational activities relies on funds from students, one of which is tuition fees (SPP). This creates problems if students are late in making tuition payments, because tuition payments can improve the quality of education and facilitie. Therefore, the purpose of this study is to determine indicators, then implement the logistic regression algorithm by dividing the data into 70:30 and evaluating the performance results of the algorithm using the confusion matrix. The data obtained are sourced from the Academic Administration Section and the Financial Administration Section as many as 12,408 data with several attributes such as the faculty, study program, class, gender, father's income, mother's income, father's education, mother's education and label (late or not late). From the results of the data test that has been carried out, it gets the results of an accuracy of 55.89%.

Credit Default Prediction Based on Blending Learning Model

Currently, the preventions of credit default usually will be evaluated by users credit value before loaning from banks. However, for the loan user, who have no existing record of loaning and the situation of low credit value, it cannot precisely recognize the risk of credit default. After a credit default, the bank not only doesnt get the signed compensation and principal in time, but also the debtor needs to bear the expensive corresponding late fees and credit costs. Therefore, reducing credit defaults can decline more burden of debtors and creditors. In this paper, the authors evaluate multiple machine learning models including algorithms belong to machine learning and deep learning, using blending model to boost the prediction effect and accuracy, while proposing an optimization design to further enhance the stability, accuracy and generalization capacity of proposed algorithm, so as to effectively decrease the credit default rate and the risk of bank loss in practice.

Late Fees Encourage Early Membership Renewal

Late Fees Encourage Early Membership Renewal

Indirect methods of estimating tax liabilities theoretical and practical aspects

This article represents a complex research on the indirect methods of estimating the incomes of natural and legal persons, residents and non-residents, control that is carried out based on information from indirect sources and aims to identify taxpayers who obtained income and did not declare it. The importance of these methods is indisputable, as they are applied in most states with efficient tax systems, based on the given methods it is possible to calculate tax obligations that have been hidden by the dishonest taxpayers. The applicability of the given methods in the Republic of Moldova has increased in the last 5 years, by means of the given methods, fiscal equity has been restored, tax evasion has been limited and the state’s tax revenues have increased. In the results of the application of indirect methods, undeclared income is usually identified, taxes on this income, late fees and fines are levied.

Billing Risk Handling Based on Economic Learning Material Development Model Using FMEA and RCA Methods

This study aims to describe the Billing Risk Handling-Based Economic Learning Material Development Model Using the FMEA and RCA Methods. The design and research approach in this study is quantitative where quantitative research is a data collection technique that is answered objectively in strengthening the questionnaire. The results of the study show that: (1) The model for developing economic learning materials can be done using Project Based Learning. Where this model prioritizes project-based economic learning. The project in question is to use the FMEA and RCA methods in the company. (2) SOPs in the company have been prepared properly, from 7 days before the due date to more than 60 days late. However, the field conditions that occurred were not by the existing SOP, resulting in various problems. (3) Factors that become obstacles in the billing process include: it is difficult to contact corporations, which results in unscheduled payments and miss communication with clients. (4) Efforts to improve performance in the billing process are carried out by adding a computerized system, setting procedural operational standards, making KPIs (key performance indicators) on billing, making initial agreements with clients regarding late fees and offering early payments, making billing priority lists, and periodically billing blasts via WA.

Persepsi Mahasiswa Ekonomi Syariah Terkait Ta’dzir pada Bank Syari’ah:


 Islamic financial literacy still shows a very minimal number, namely 8.93% according to publications from the Financial Services Authority in 2019 which means that when there are 100 Indonesians, 8 of them have a fairly good literacy towards Islamic finance. Meanwhile, according to publications from Bank Indonesia, the increase doubled, namely 16.28%, which the research conducted in 2019 which means that for every 100 people in Indonesia. Students as agents of call to advance Islamic finance, it is necessary to have a fairly good literacy, moreover there are many thoughts that are the antithesis of Islamic economic thought that is fatwaed by the DSN-MUI. The institution is an institution recognized by the government in issuing sharia economic fatwas in Indonesia. Therefore, Islamic economics students must have the same perception as what the DSN-MUI fatwa has made. Late fines become a contract that gets a negative stigma in the community because there are thoughts that are contrary to the DSN-MUI fatwa. Therefore, it is important for Islamic economics students to fortify themselves with good literacy in order to have a good perception.STIS Al-Wafa provides good literacy to its students, especially those who have passed semester 5 because they have obtained literacy related to contemporary muamalah fiqh. So that most of them have a good perception of late fees in Islamic banks. Then also as a student, it is also necessary to deepen material about benefits because it can help in understanding a fatwa product that is relevant to its era.
 Keyword : Perception, Literacy, Late Charge, Student

Landlords’ rental businesses before and after the COVID-19 pandemic: Evidence from a National Cross-Site Survey

This paper uses a survey of over 2500 rental property owners in ten cities across the United States to determine the impact of the COVID-19 pandemic on landlords’ rent collection and business behavior. Our findings show that yearly rent collection was down significantly in 2020 relative to 2019—both within and across rental markets—and that an increasing number of owners have a large share of their portfolio behind on rent. Small owners and owners of color faced the highest exposure to deep tenant arrears in 2020, challenges they were also more likely to face prior to pandemic. Our findings show that owner business practices changed dramatically in 2020, with a higher share of landlords granting tenants rent extensions or forgiving back rent during the pandemic relative to prior. However, many owners also disinvested in their rental properties through deferred maintenance, missed mortgage payments, and property sale listings. Landlords of color pursued disinvestment strategies during the pandemic at an elevated rate compared to white landlords. Owners of properties in neighborhoods with more non-white residents were both more likely to experience decreased rent collection and more likely to pursue evictions and rental late fees holding constant rental payment rates, implying the pandemic has disproportionately affected renters in communities of color. Overall, our findings highlight the strain the pandemic has placed on the housing stock, which has implications for the long-term viability and affordability of many of these units. More concerningly, our results show that households of color—which have been disproportionately affected by the pandemic in other domains—were more likely to face punitive measures from landlords in both 2019 and 2020, suggesting the pandemic has exacerbated existing racial inequality in housing markets.

PERANCANGAN SISTEM INFORMASI PINJAMAN PADA KOPERASI SERBA USAHA ANUGRAH USAHA KITO BERBASIS WEB

Anugrah Usaha Kito Multipurpose Cooperative is a financial institution that provides loan transaction services. The Multipurpose Business Cooperative Anugrah Usaha Kito needs to have an information system to facilitate data processing, carry out tasks appropriately, and minimize errors in recording transactions and financial calculations, because the existing system cannot support the activities carried out by the Multipurpose Business Cooperative Anugrah Usaha Kito, especially Another problem with the running program is that it still uses a manual system. To meet the above requirements, it is necessary to design a loan information system. This information system is made using the PHP programming language through the CodeIgniter framework, and MySQL as the database storage. By using database storage, the cooperative information system can facilitate the processing of member data, loan data and installment data because it has been stored in 1 central database. This web-based information system is an alternative to improve the quality of data processing and cooperative loan services. The facilities contained in this information system include processing member data, loans, installments, late fees.

“Buy now, pay later” as Resilient Credit

Buy now, pay later (BNPL) products like Afterpay and Klarna promise to disrupt and democratise traditional finance by providing a fairer and more empowering financial product. Yet critics argue these products encourage overconsumption that people can ill‐afford, with late fees that can quickly add up.But what if we viewed these products not as emerging and disrupting, or as predatory and targeted, but instead saw them as part of a resilient credit industry – one that has learnt, adapted and evolved with changes in norms, regulations and technology?Understanding these products as part of an ongoing, resilient credit industry helps us move beyond criticism and hype, so we can design a financial future for everyone.