The Late Payment of Commercial Debts (Interest) Act was initially introduced in 1998 and gave businesses the ability to claim interest on unpaid commercial debts. The Act was amended in August 2002 so that business owners could also claim reasonable debt recovery costs. The current table of costs recoverable from a debtor is as follows:-
The Late Payment of Commercial Debts (Interest) Act was amended again in March 2013 enabling creditors to claim from the debtor any reasonable costs incurred when recovering a commercial debt. This includes debt collection agency fees.
Credit Collections (UK) Ltd will help you to implement the Late Payment of Commercial Debts (Interest) Act so that you can significantly reduce your debt recovery costs and in many cases recover all of your costs from the Debtor.
Telephone Judy Wright on 01246 411931 for more information.
Alternatively, request further information.
1 Sheffield Road
Tel: 01246 411931