part payment received

Hello Ivor
When you make a claim and the invoice only is paid, that payment covers the interest and compensation first, then the balance pays off the invoice. This means that not all of the invoice is paid so interest will continue to accrue on a daily rate on the FULL amount of the invoice.

For example:

Compensation £70.00
31 days interest £7.22 (based on a daily interest rate of: £0.23p per day)
Invoice £1000.00
Total owed £1077.22


If just the principal is paid then the calculation would be:

Compensation £00.00
31 days interest £0.00
Invoice £77.02
Total owed £77.22

As there is still an outstanding amount owed om the invoice, interest continues at £0.23p per day.

I would make the debtor aware of this fact. Taking the claim further is only a decision that you can make. Action sooner rather than later is the better option though and you could either use money claim online or the services of a good DCA.

Regards

David