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  5. The late payment of commercial debts (interest) Act.
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× Welcome to the late payment of commercial debts (interest) act. Forum!

Post questions here regarding the use of the Late Payment Legislation

Changes to the legislation

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13 years 9 months ago #329 by jimbo22
Replied by jimbo22 on topic Re:Latest information regarding Changes to the legislation
Sounds good, but unless businesses intend to use this and debtors are prepared to pay interest and compensation without the need for the creditor to take court action, whats the point ?

We still need a firm ruling, that will encourage those business hit by bad payers to exercise their rights. There really needs to be a big change in UK payment practise.

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13 years 9 months ago #331 by David J
Replied by David J on topic Re:Changes to the legislation
Hello James

We quite agree and we are listening to what you are saying. We hope to make plans to encourage changes and we are talking with a number of people to that effect.

David

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13 years 9 months ago #332 by jimbo22
Replied by jimbo22 on topic Re:Changes to the legislation
Ok then.

Let me work through some actual case studies, on using this legalisation.

I have a customer who has not paid his invoices to me, they owe me around £600.

I will outline the matter and will go thro the steps and will report back the results, as they occur.

The first one will be a small claims matter.

So lets see what happens when I try to exercise my rights by using this legalisation.

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13 years 9 months ago #333 by David J
Replied by David J on topic Re:Changes to the legislation
Hello James
That would be an interesting exercise and we look forward to your reports.

David

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13 years 8 months ago #352 by David J
Replied by David J on topic Re:Changes to the legislation
Here is the final adopted directive which will come into effect on the 16th March 2013. Directive 2011/7/EU on combating late payment in commercial transactions.
The current legislation remains applicable until that date.

We hope to put a summery of the new directive on this site shortly with comparisons to the current legislation. It is worth remembering that the new directive is the minimum that each EU member must adopt.

David

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  1. Forum
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  5. The late payment of commercial debts (interest) Act.
  7. Changes to the legislation
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