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CLARIFICATION OF 6 YEAR RULING

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10 years 11 months ago #1093 by BLJ1
CLARIFICATION OF 6 YEAR RULING was created by BLJ1
Dear Sirs

Could someone please clarify a question we have on the 6 year ruling.

We have a number of clients who have invoices outstanding where we have charged interest and a late payment fee, but remain outstanding These invoices will soon be outstanding beyond the six years.

Can we still chase these with the additional charges, or after the six year deadline, are the additional charges wiped out.

Your thoughts on this would be appreciated.

Regards


BLJ

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10 years 11 months ago #1094 by David J
Replied by David J on topic Re: CLARIFICATION OF 6 YEAR RULING
Hello BLJ
The six year rules is based on the limitations act 1980 which states time limits for actions. In Scotland the limit is 5 years.

www.legislation.gov.uk/ukpga/1980/58

I think it would be a good idea to have a read through the above link to get a better idea of where you stand legally.

I hope that helps.

David

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10 years 11 months ago #1095 by john@termsandconditions.co.uk
Replied by john@termsandconditions.co.uk on topic Re: CLARIFICATION OF 6 YEAR RULING
Hi BLJ

David is right re statute of limitations. Practically speaking, a way to get more time is to file a claim in the courts; so long as the debt is under 6 years old before your claim is submitted, you have chance of securing judgement on the outstanding debt plus late payment charges and court costs. Such a judgement, if awarded, will last for another 6 years.

Best Regards
John Hackwood
TermsandConditions.co.uk Ltd

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