Horrific late payment charges

<p>I recently discovered that the TFG Group charges over 25% for paying your account late.</p> <p>I paid my account on the 4th of the month and was charged this ********** amount. When I called customer services, I was told their accounts are to be paid by the 1st, I then asked when the books close and was told by the 12th. Now if the books only close then, why charge customers this amount. I do not believe that there is any other retailer that charges a percentage of the amount owing for late payment. Also, is this even in line with the National Credit Act.</p>