Recovery Solutions

Getting what you're owed...

Compensation for Late Payment

Did you know you could claim compensation for debt recovery costs and interest until date of payment?

In November 1998, legislation was introduced to give businesses a statutory right to claim interest from other businesses for the late payment of commercial debts.

From 7 August 2002, the Late Payment of Commercial Debts (Interest) Act 1998 was amended and under the revised legislation, all businesses can claim debt recovery costs and can benefit from Statutory Interest.

The compensation entitlement varies in accordance with the size of the debt and ranges from £40.00 to £100.00 per invoice together with interest on late payments at 8.5% per annum until date of payment.

Contact Vicki Moffat for more information.

Controlled Credit

New year, new start and what better time to review your credit control procedures.  Our team of credit controllers bring a focused proactive approach to your day to day in-house credit control function; whether it is as a support to your in-house credit controller or as a fully outsourced service, where we do the work and you retain overall control... whatever you need we can help.

We offer individuals and businesses, whether large or small, a full range of credit control services.  We aim to remove the administrative burden of dealing with invoices, chasing payments, reducing any bad debt and improving cashflow.

We can show you how to improve your systems and put effective policies in place to reduce your bad debts.  We can research your clients to see if they have any outstanding Judgments and give you the information required for you to make an informed credit decision.

Contact Cath Carruthers for more information.