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Debt Recovery

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7 years 2 months ago #2011 by S.NICHOLLS
Debt Recovery was created by S.NICHOLLS
When recovering a late debt, do I need to issue a new invoice, for the total of the debt and the interest / compensation charge and allow the standard 30 days to pay or do I just issue a further invoice for the interest and recovery charge alone?

Assuming payment isn't forthcoming, do I apply to the Courts after 30 days of the interest charges being applied?

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7 years 2 months ago #2012 by james@cpa.co.uk
Replied by james@cpa.co.uk on topic Re: Debt Recovery
Hi S Nicholls,

You do not need to issue an invoice for the interest and compensation. You just add these to your claim. Also you do not have wait a further 30 days after demanding them before taking action. They are due immediately when the invoice becomes overdue.You can take action as quickly as you want should they not respond to your request.

James
CPA

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  1. Discussions forums
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  5. The late payment of commercial debts (interest) Act.
  7. Debt Recovery
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