The Late Payment Of Commercial Debts in the Leeds UK
The Late Payment Of Commercial Debts; Are you chasing the late payment of commercial debts that are owed to your company? The highly trained and experienced commercial debt recovery specialists at Oakwood Solicitors could offer a pragmatic and professional approach to chase late payment of invoices from commercial clients purchase goods or services from your company securing payment of the outstanding funds as quickly and cost effectively as possible for you.
The Late Payment of Commercial Debts (Interest) Act 1998 allows for interest and compensation to be charged to business clients who fail to pay invoices on time when they purchase goods or services from your company for business purposes.
The interest can be charged at a rate of 8% over the Bank of England base rate and interest can even be charged and invoices that were not paid within the credit period even if they have been paid now. There are six years in which you can claim interest on late payment of invoices.
The compensation that can be claimed depends upon the invoice amount. The outstanding invoice amounts of £999.99 £40 compensation can be charged for each unpaid invoice. If the invoice amount is between £1000 and £9999.99 a charge of £70 can be added to the outstanding debt and in cases where invoice amount is £10000 or above £100 can be charged in compensation for late payment.
Once again there are up to 6 years in which you can claim the compensation and this can be claimed even if the invoice has now been paid.
Do you require expert assistance in securing the late payment of commercial debts and interest on the outstanding balance? Then you should make a no obligation call to the dedicated debt recovery team at Oakwood Solicitors to discover how our experts could provide fast and cost-effective debt recovery solutions that are tailored to your business needs securing a payment that you require along with any interest in compensation that is applicable as quickly and efficiently as possible.
The experts at Oakwood Solicitors were recently contacted by a client who required professional assistance to recoup outstanding funds of £438 from Ms D in Southall.
Do you require assistance from experienced debt recovery professionals to recover money that is owed to you for goods or services that your company has provided? Are you looking to charge interest and compensation to your commercial client for failing to pay invoices on time? Then don’t hesitate to get in touch with the experts at Oakwood Solicitors for services that you can rely upon.
The highly skilled is a team of professionals in the dedicated debt recovery department Oakwood Solicitors could assist your organisation in obtaining the late payment of commercial debts that are owed for goods or services that you have provided in addition to interest and compensation that can be charged in qualifying cases; so make a no obligation call to our helpful advisers today to discuss your commercial debt recovery requirements in a free initial consultation on: (0844) 847 2323.
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