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  5. The late payment of commercial debts (interest) Act.
  7. Statutory Compensation for non payment
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Post questions here regarding the use of the Late Payment Legislation

Statutory Compensation for non payment

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14 years 2 days ago #276 by ninesquared
Replied by ninesquared on topic Re:Statutory Compensation for non payment
to qoute from another website

The legislation is not limited simply to collecting interest on outstanding overdue debts. You may also use it to collect interest on debts that have been paid but were paid late. You can go back up to 6 years (5 in Scotland). However you cannot go back before the date when the legislation was introduced.

You might choose to wait until the customer has ceased to be a customer or you are being forced to take legal action anyway; and then send them a demand for all the interest/compensation on all of the invoices that they failed to pay on time.

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  1. Forum
  3. Pay on time supporter forums
  5. The late payment of commercial debts (interest) Act.
  7. Statutory Compensation for non payment
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