Commercial Debt Interest in the Leeds UK
Commercial Debt Interest; Are you in search of specialist commercial debt recovery professionals to help you secure payment of the outstanding funds that you are owed for an unpaid invoice plus interest on the outstanding balance? The debt recovery specialist at Michael Lewin Solicitors could use their vast knowledge and expertise in the field of commercial debt recovery to work on your behalf and obtain payment in full of the outstanding funds owed to you by business clients who have not made invoice payments on time.
If you have provided goods or services to business client that were purchased for business purposes and they are late in making payment on the invoice that you have issued to them interest and compensation can be charged to that customer under the Late Payment of Commercial Debts (Interest) Act 1998.
The interest can be charged at a rate of 8% above the Bank of England base rate and can be claimed even after the invoice has been settled starting from the date the invoice should have been paid and ending on the settlement date.
You have up to 6 years in which you can claim interest on late invoice payments. In addition to this there is also six years in which you can claim compensation for each invoice that was paid late. The compensation per invoice ranges from £40 to £100 depending upon the invoice amount.
This compensation can be claimed from the customer as soon as payment is late. In cases that involve orders placed after 16 March 2013 the costs of our debt recovery services can also be charged to the debtor is the compensation amount does not cover them.
Do you require specialist commercial debt recovery services to help your company recoup outstanding funds that are owed for goods or services that were purchased from you along with interest and compensation on top of the debt? Then you should consult with the experts at Michael Lewin Solicitors over a no obligation call to discover how our skilled and highly driven team could pursue payment of the outstanding debts owed by your business clients along with interest and compensation payment being made late as quickly and efficiently as possible.
The debt recovery experts at Michael Lewin Solicitors were recently contacted by a client who sought assistance to secure payment of outstanding debts amounting to £1033.52 from Ms A in Plymouth.
It is worth noting that if a contract with a business client contained a provision for interest on late payments then a Late Payment Demand cannot be issued to them to claim interest and compensation. However the experts at Michael Lewin Solicitors can act on your behalf to recoup the outstanding funds and any interest as per your original contract.
The dedicated commercial debt recovery team at Michael Lewin Solicitors could provide tailor-made debt recovery solutions to help you secure payment in full for the business clients who have failed to make invoice payments on time as well as secure interest on top of the outstanding balance and compensation for the late payment; so fast and cost-effective debt recovery services contact our helpful advisers today for a free initial consultation on: (0844) 847 2323.
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