Unpaid Invoices

[Quercus-90]

I think it's 90 days before you can start charging interest or pressure legal action I could be wrong tho!

 

 

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[Kev Stephenson]

90 days unless your terms and conditions state otherwise

[hedgesparrow]

even big companys have cash flow problems. worth having a look at company houses records and see how they are doing. costs a fiver to look up.

if they look as if they are in a bit of trouble as other post get in quick and serve a statutory demand. by you doing it you are top of pecking list to get your money. or send them a final letter stating that invoice is now overdue and requires payment within 7 days or legal action will be used to recover debt plus interest and costs.

if its under £1500 small claim online £100 to set up plus then having it read aprox £40. if they dispute then judges time to add aprox £400. if not and still do not pay up baliff cost to court. never got that far so do not know costs.

if its over £1500 it gets legal as called fast track and either side can claim there expences. depends how much you do work for them are they worth having to do work with them again. your call is it worth chasing for money hoping more work comes your way even if bad payers. or if its a one off then go for the throat. and get your money. but check there fluidity if sinking then get in quick before you loose the lot. as may owe money to many and paying those who are shouting the loudest. to stop them doing the wind up route.

[simonorourke]

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[derbyshiretreeservices]

Have you got terms and conditions on you invoices? If not you could have problems getting your money because YOU have not stipulated when you need paying by. If it’s a big company they should have agreed to your terms and conditions before you starting the work, a friend of mine undertook some work for a large house building co, the agreement was to landscape..say 25 houses, he’s done 19 but they wont pay him so he’s talked to a solicitor and its legal what they have done because the agreement was to landscape 25 houses he’s technically NOT finished just because they have stopped building houses that irrelevant, so he will get paid when the landscaping is finished (this could be years before he sees his money .

[gensetsteve]

As been said put pressure on to get your bacs go and see them. If you check them out online and find they are looking shaky careful of what you issue as they may pull the plug and you wont see a penny of your money. If they look poor on line dont work for them again unless they pay up front. Since 2009 we had a few companies that took 7 months to pay. We are really busy so now demand payment up front before we do the job. Generator installs for good companies are split into stage payments and the generator does not leave the works until the cost price is covered.

[hedgesparrow]

with a statutory demand if you get it in whilst they are still trading then all assets are frozen so they have to sort out a agreement with there creditors.

and as you issued it then on top of pile. the days of HMRC getting the lion share has gone get the same as rest of the creditors

[benedmonds]

Prompt Payment Code

https://www.gov.uk/statutory-demands/overview

 

Check out these 2 sites. The statutory demand is a bit of a sledge hammer though it might focus attention.

 

Cheers, I guess that is the way I will go.

[hinser13]

You can pay a solicitor to send a "pay up letter" which in my experience dealing with even the most stubborn of companies has always resulted in payment for me. Truly disappointing when you undertake work in good faith. I have normally only paid around £30 for an official demand letter. A solicitors letter will carry much more weight in this type of situation. Mark Hines Arb Pro Software

[hinser13]

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