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Late Payments

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8 years 1 month ago #1974 by sandeep71
Late Payments was created by sandeep71
Hi, I have just joined and found the information very useful..I am going to sound so stupid now, in a nut shell, we are a very small company, 3 man, we carried out some work over 18 months ago, The company had financial difficulties, I agreed for them to pay me in monthly payments, which their did and when months were hard for them, I reduced payments. The New MD has now stopped all payments and told us that our work was not good enough and we had not submitted all the documents, the documents we were never asked for. I want to take them to court but can not afford the fees, of 4.5% as the debt is 120k
is their a way round? currently we have a new contract but got wait 3 months for payment. any help or advise would be great

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8 years 1 month ago #1975 by james@cpa.co.uk
Replied by james@cpa.co.uk on topic Re: Late Payments
Hi Sandeep,

If the debt is for £120k, the court issue fee is going to be £6000.00 and that’s before any interest, costs and LPC is added!

The bigger issue is that despite the debtor making some payments, you indicate that the debtor is now not happy with the work. Regardless of the merits of that claim, this could lead to any potential claim being defended and a debt of that size could end up in the MULTI-TRACK process in the courts, which could run into significant costs and time!

We would like to help, but we are going to have to look much closer at it.

If you would like to email my colleague Ray White (This email address is being protected from spambots. You need JavaScript enabled to view it.)in our Debt Recovery Department or call him on 020 8846 0000 then we can discuss it in more detail.

James Salmon
Director
CPA plc

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  1. Forum
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  5. The late payment of commercial debts (interest) Act.
  7. Late Payments
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