Stat interest and/or compensation?

It still has to be said, that regardless of all the calculations and spreadsheets, the person you are claiming from could ignore your claim, then what will you do ?

You can either forget about your claim or go to court.

Going to court is the only way your claim can be enforced and within this legalisation there is provision for remission in whole or in part of any interest due, in the interest of justice. There is no guarantee that you will have your claims enforced and you could end up with not only your costs but the costs of the other party.

In regard to the format of your claim and what it is to show, I will post some details which we have been advised. The claim must be correct for it to stand and in the correct format.

All said and done - who is going to court to enforce their claims ? Each case will be different. How much are you prepared to risk in going to court ? You need to be sure of your ground. You need to be able to pay not only your legal costs, but also the other parties in case things go wrong. Weigh it up before you go, it is not clear cut.

Please, please, please be careful.

Please more posts about court results !

James

In your recent post you made some valid comments on the risk/cost of taking a claim to court in a matter where the legislation has not been tested and where in all likeliehood there may be either a number of grey areas or lack of good credit control practice.

The one point you did not comment on is what happens if you win the case and then try and enforce the judgement.

More and more retrospective claims seem to be an interesting discussion point on this forum but perhaps not a area where there is a realistic prospect of seeing the amount claimed in your bank account.

Turn this round another way and ask yourself the question what would you do if you received a claim going back over six years for a sum in excess of £10k made up mainly of compensation charges. Your first action would clearly not be to write out a cheque in settlement!!

If you are saying, if a case is won for late payment how is it enforced, the process should not be a problem.

1. First of all make sure the business you are claiming against has the ability to pay, if not, there is no point to your claim. You will just be beating on air.

2. If the business has the ability to pay, they will likely not want the matter to go to enforcement, and they will likely pay the sum due within the correct time, if not it will go to enforcement of judgement, then their credit rating will be affective.

3. Retrospective claims - these are legal claims and why should they not be part of a claim for late payment ?

4. I have seen over £15K paid to me in late payment charges, made up of retrospective claims. This is in my bank account :-)

And yes, if a claim is made for excess of £10K, then I dont see the issue in this being paid. The person who the claim is being made against, might be smart, and offer a settlement figure, thus saving something, but settlement there will need to be.

It remains the first step to win the case, and late payment I believe will be awarded on a case by case basis for those cases going to court.

Good credit control has nothing to do with the matter of late payment. This is statute legalisation. How does good credit control come into the matter of late payment ? Either you where paid on time or you were not. You can have the good credit control on place, but this does not affect if you are paid on time or not.

"It still has to be said, that regardless of all the calculations and spreadsheets, the person you are claiming from could ignore your claim, then what will you do ?
...."

Thank you James. I do this for a living so I have years of experience in submitting claims and going to Court. This is the first time anyone has questioned that stat comp can only follow if stat Int is also claimed.

Anyway, we often issue Part 36's to address cost issue.

ok the URL to my calculator is
cgoldman.com
then click on statincalc. The spreadsheet is obviously updated every 6 months.