multiple reminders and compensation charge

Hello John

The correct way to do this is to make a separate claim for the interest and compensation in writing (although it can be via email or verbally).

So the interest will start from the day after the debt became overdue and continues at a daily rate until interest, compensation and invoice are paid in full.

If a part payment is made (or the invoice is paid in full but excludes the compensation and interest), then compensation and interest are deducted first and the remainder pays off the invoice. As part of the invoice amount would still be outstanding, interest will continue to accrue at the full daily rate until paid in full.

Of course it is up to you whether you want to pursue that amount.

Our new advanced calculator (which will hopefully be available before the year 3000!) will do all this for you including generating the relevant letter.

In the mean time, this template can be used as a guide for the claim letter.

Kind regards

David