Debt Recovery and Late Payment Demands
Cash flow is vital to any business and we know that every day counts with getting invoices paid. Our lawyers work with businesses to promote efficient and cost-effective debt recovery.
Debt recovery services tailored to your needs
Recovering overdue invoices can be a time-consuming exercise and it’s not always on the top of your list. That’s where our debt recovery experts step in.
If you have exhausted your internal routes and are having to write off debts, we will assess these for merits of recovery. In addition, we always look to recover interest and applicable late payment compensation for you.
We’ll advise your Business on applicable interest and late payment fees that may also be payable in addition to your invoice debt to make sure that you are compensated in the event of an overdue debt. We can provide a review of your Terms of Business, Recovery Strategies and end to end Recovery action from initial demand through to any necessary Court action.
Support and guidance with every stage
If your Contract does not provide an interest rate applicable on overdue debt, then your Business may rely on the Act to recovery statutory interest in addition to your invoice sum. The Act also provides for compensation fees to be payable in the event of late payment as follows:
| Amount of debt | What you can charge |
| Up to £999.99 | £40 |
| £1,000 to £9,999.99 | £70 |
| £10,000 or more | £100 |
We will issue Late Payment Demands from as little as £30.00 plus VAT. Discounts are available for bulk instructions.
We understand that every business has different debtors. To alleviate payment, some require a firm hand whilst some require a more empathetic approach. By discussing your debtors with you, we will relieve you of the time and stress involved in recovering bad debts whilst maintaining client relations where necessary.
Debt Recovery Calculator
Our debt recovery calculator uses specific interest rates and compensation tables to calculate what you could claim.
These calculations should be used as a guide only, we recommend that you receive a free consultation with one of our advisors to discuss the results and your next steps.
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