Overdue payment charges

[18 stoner]

Just wondering what the legal limits are for putting interest and addition charges onto overdue accounts?

 

I have sent an initial invoice with a "payment requested within" listed on it, but how much notice do i have to give before introducing charges?

 

Any info will be good, cheers in advance.

[tokaloch]

I have always charged interest if the payment exceeds my standard mothly payment terms. Its cleraly shown on my quotation and I also print that accepting me to do the job implies that my standard business terms are met. I charge 2% over the bank of England rate and always get it.

Dont let the B****** get away with late payment, its always the ones with the big houses and swish cars who try to mess you around

Hope that helps

[Mac McLennan]

Does pee me off chasing my own money. I work for a housing company who always pay late.

 

I've just been chasing up an invoice for £560......They sent me a cheque for £680.....sweet

 

....I'll call the extra 'intrest'

[Mr Ed]

You are allowed to charge 13% per annum, but you can legaly stick this on top if they are even a month late.

[18 stoner]

Cheers so far, i actually put payment within 14 days as i know they are unlikely to pay. But what you are saying Ed is when they are a month late, i can apply the interest anyway, or do i need to give notice of the charges?

 

Sorry for the questions, its all very new to me, i am not used to this type of customer!

[treequip]

If the debt is commercial check this site out.

http://www.payontime.co.uk/

 

Andy

[Frank]

just keep tipping your woodchip in his front garden until they pay haha. As for interest and and all that, it must be clearly stated on your invoice, your terms of business, i think.

[18 stoner]

just keep tipping your woodchip in his front garden until they pay haha.

 

That was option No.1 but i had a moment of rational thinking so trying the legal approach first:sneaky2:

 

In a few weeks if i still aint got my money, i`ll give you the adress, will be a free tip in Brough!

[Lee Winger]

We stipulate 30 days max, after 30 days charges occur!

[Yorkshireman]

it would be a shame,

if someone mistakenly dropped off a fresh load of manure on their drive:001_tt1: