Commercial Debt Interest Uk
Are you seeking experienced commercial debt recovery professionals to help you secure payment of outstanding funds and interest on the balance of the debt that is owed by business clients to your company in the UK following the purchase of goods or services from you? Then look no further than the highly trained and experienced professionals at Michael Lewin Solicitors who could use their vast knowledge and expertise in the field of commercial debt recovery to work on behalf of your company and obtain payment from commercial clients as quickly and cost effectively as possible when they fail to make payment of invoices on time.
Under the Late Payment of Commercial Debts (Interest) Act 1998 a company like yours can claim interest and compensation on outstanding debts when a commercial client who purchased goods or services from your company for business purposes fails to make payment of an invoice on time.
The Act only applies if there is no provision for interest on overdue invoice payments in your contract and the contract is not a consumer credit agreement.
The interest can be charged at 8% over the Bank of England base rate and between £40 and £100 can be claimed for each unpaid invoice depending upon the outstanding invoice amount. There is to 6 years in which this can be claimed from the date that the payment was originally due even after the debt has been settled.
Do you require commercial debt recovery services from highly skilled legal personnel who could also secure payment of interest on top of the outstanding balance owed to your company in the UK? Then you should consult with the debt recovery experts at Michael Lewin Solicitors to discover how our specialists could recoup outstanding funds that are to your company for goods or services that you have provided to business clients as quickly and efficiently as possible along with interest on the balance.
The dedicated commercial debt recovery department at Michael Lewin Solicitors recently contacted by client who required assistance in their pursuit of outstanding funds amounting to £750 from Mr T in Suffolk.
Customers do not need to be informed that you will claim Late Payment interest compensation or costs from them if they fail to pay invoices on time for the goods or services that they purchase from you however you may find that it is actually to your benefit to inform them of your intentions as it may act as a deterrent failing to pay on time. This will help your company’s cash flow.
The commercial debt recovery specialist at Michael Lewin Solicitors could work on behalf of your company to obtain payment in full of outstanding funds that are here to you by business or personal debtors as well as interest and compensation on top of the outstanding balance in cases that qualify for this to be charged; so make a no obligation call to our helpful advisers today the fast and cost-effective debt recovery solutions that are tailored to your business needs or if you are in the UK on: (0844) 847 2323.
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