Late Payments Of Commercial Debts Bradford
Late Payments Of Commercial Debts; Are you seeking expert assistance to chase down late payments of commercial debts that are owed to your organisation in Bradford? Then look no further than the extremely dedicated commercial debt recovery department at Oakwood Solicitors as our experts could work on behalf of your company to obtain payment in full of outstanding commercial debt is owed to you by business clients.
The dedicated commercial debt recovery department at Oakwood Solicitors recently contacted by a client who required assistance to retrieve outstanding funds of £980.74 from Ms H in Salisbury.
Do you require the specialist services of skilled professionals to help you obtain payment of outstanding debt that is owed by business customers? Then don’t hesitate to get in touch with our extremely hard-working team of specialist debt recovery solicitors who could act on behalf of your organisation to retrieve the funds that you are owed.
Do you require the specialist services of debt recovery professionals to help you obtain late payments of commercial debts that are owed to you by business clients in Bradford? Then you should make a no obligation call to the commercial debt recovery specialists at Oakwood Solicitors as our experts could provide fast and cost-effective solutions to your debt recovery problems to ensure full payment of outstanding funds is obtained.
The Late Payment of Commercial Debts (Interest) Act 1998 enables companies to charge business customers interest on overdue payments that are owed to the company along with compensation on each unpaid invoice.
Originally the Act was forced to give small and medium enterprises (those are 50 or fewer employees) the right to charge interest to larger businesses and public sector organisations of any size.
Amendments have been made to this policy in 2000 and 2002 allowing small businesses to claim statutory interest from other small businesses and allowing all businesses including those in the public sector to claim interest from any other business or organisation.
Companies have the right to charge interest on overdue accounts that relate to the provision of goods or services that were purchased for business purposes. Interest can be charged at 8% above the Bank of England base rate and compensation can range between £40 and £100 depending upon the size of the outstanding debt.
The professionals at Oakwood Solicitors can calculate the amount of interest and compensation that your company is owed and issue a Late Payment Demand to recoup the money that you are owed plus the interest as quickly and cost effectively as possible. If payment is not made in full our experts can issue legal proceedings on your behalf.
The highly trained and experienced professionals at Oakwood Solicitors could help you secure late payments of commercial debts plus any interest charges and compensation on the balance that may apply that commercial clients owe to your company in Bradford as they failed to keep up with an agreement or complete an invoice payment; so make a no obligation call to discuss your commercial debt recovery requirements with our specialist business to business team today on: (0844) 847 2323.
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