What does the cryptic crossword clue "Send cheque finally, after it's due (5)" mean?

This cryptic clue uses wordplay to arrive at the answer. Visit the page for progressive hints — definition, wordplay type, and a full step-by-step explanation.

Send cheque finally, after it's due (5)

Times Cryptic #29021 | 4 Down | 2024-09-13

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I haven't cracked this one yet — but the brilliant team at Times for the Times have:

last letter of CHEQUE + LATE (after it’s due)

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