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The late fees should not be changed. What should be changed is the time period to declare it late. I was charged a late fee on my house mortgage. I mailed the check the day after I received my billing. Per the mortgage company, they did not receive it until 20 days after mailing. I suspect they were correct. Lost letters and late letters are endemic to the United States Postal Service. I would suggest a 45 day period to access late fees.

PS
I called the mortgage company and asked them to look at my payment history of never once being late and always early. I also mentioned I had 40k in my accounts with them, so money was not the problem. They did and courteously waived the late fee. I do not blame the mortgage company. I blame the United States Mail Service. Midwest was the company handling billing to me for my bank from which I had the mortgage. They were fair and efficient.