What is the Late Payment of Commercial Debts Act?
This Act was introduced in two stages in 1998 and 2000 and allows us to charge your debtor compensation (which is dependant on the value of your debt as shown in the below table) and interest at 8% above base. This assists the collection process as the outstanding debt is constantly increasing and therefore requires immediate attention to prevent further costs being incurred. This also allows our clients to off set part of our fee to your debtor.
