Reasons for non payment.

[csservices]

My invoices state payment within 14 days on the bottom of them, usually give a weeks leeway then they get a statement of account, if still not paid week after that get statement of overdue account stating as the invoice is now overdue it is accruing interest at 10% per day until it is paid in full, only had to doorstep one person to get paid and he coughed up straight away when I turned up.

[Richard 1234]

My invoices state payment within 14 days on the bottom of them, usually give a weeks leeway then they get a statement of account, if still not paid week after that get statement of overdue account stating as the invoice is now overdue it is accruing interest at 10% per day until it is paid in full, only had to doorstep one person to get paid and he coughed up straight away when I turned up.

 

 

Careful with 10% per day I'm sure that's not even legal as its 3650% Apr

[csservices]

Probably why they pay fast, I've never actually applied it yet.

[Mark Bolam]

Careful with 10% per day I'm sure that's not even legal as its 3650% Apr

 

 

It's totally legal if you state in on your terms at QUOTATION stage.

It's too late to talk turkey after you've done the work fellas.

You need to nail down payment terms before you even give a price.

90 days? No problem, I'll quote double.

[eggsarascal]

Wouldn't it be nice to get paid within two weeks!?

 

For my commercial work I invoice on the last Friday of the month then wait another month to get a draw.

[Richard 1234]

It's totally legal if you state in on your terms at QUOTATION stage.

It's too late to talk turkey after you've done the work fellas.

You need to nail down payment terms before you even give a price.

90 days? No problem, I'll quote double.

 

 

It has to be reasonable and 10% per day isn't.

I looked into this when I had a problem 3 years back.

I'm sure it was along the lines of Bank of England base rate plus 4%

[Stephen Blair]

Send a new invoice, go and see a lawyer, tell them your story and show them proof of your invoice and leave it to them.

They have 7 days to pay, if they don't then The lawyer will send a letter, if they just keep ignoring them, then you take legal action.

Or if it's a few hundred quid, just forget it and move on because it's all very stressfull and life's to short!

[Mark Bolam]

It has to be reasonable and 10% per day isn't.

I looked into this when I had a problem 3 years back.

I'm sure it was along the lines of Bank of England base rate plus 4%

 

 

My bad.

Wonga.com are offering a piffling 1500% apr at the minute.

[Ian Leach]

The judge would laugh at you if you charged 10% a day , I think it's 8% + bank of England rate .5% that's annually. So for £1000 it's about 26p per day, which is crap for small companies, but you can claim back some costs. Loss of earnings and travel .

[csservices]

Wouldn't it be nice to get paid within two weeks!?

 

For my commercial work I invoice on the last Friday of the month then wait another month to get a draw.

 

Yep doesn't always happen, I used to work on 30 days but, big firms who want 60 or 90 days credit are taking the pee, it's been used as an example many times over the years but you wouldn't walk into a shop to buy your snap and say I'll take it now and pay you in 3 months.