Interest information

Hello Sazzer

You charge interest on each invoice from the day after it became overdue until the day the principal, compensation and interest are paid in full.

We are reviewing adding multiple claims to the same client for the advanced calculator but it becomes complicated and can add a layer of complexity to something that should be based on a simple interest rate. For example, if you claimed on 10 overdue invoices, prepared your claim, then the debtor disputes one of your claims, you either have to put that on hold while you challenge the dispute or remove it from the calculation. Same problem if the debtor part pays some invoices or pays some and not others.

Best to keep it simple and controllable by creating claims for each individual late invoice.

The advanced calculator will currently create each claim (including adding compensation) for you very quickly and will track the daily interest rate and recalculate for part payments until the debt is completely paid up. You could either use the letter created by the advanced calculator or do your own based on the calculators output.

I hope that helps

Regards

David