Issuing a County Court Claim
In our experience 98% of debts are
paid upon receipt of our letters and follow up telephone chasing
service, thus avoiding the need to litigate at all.
Even if legal proceedings are required,
we will still act for you and limit our costs to those of
the compensation awarded under the Late Payment of Commercial
Debts (Interest) Act 1998.
For example
You are owed £12,500 on an invoice
that was due for payment on 31 January 2006.
You instructed us to issue a legal before
action on 15 March 2006, but the debtor has made no contact
or offered to settle the debt, despite having received our
letter and been contacted several times by telephone.
We have therefore recommended litigation
and you instruct us to issue proceedings on 1 April 2006 for:-
| The
Debt |
£12,500 |
| Interest under the Late Payment
legislation at 8 % above the base rate, which will be
4.5% (between 1 Jan – 30 June 2006), thus a total
of 12.5% over 60 days – accruing daily at £4.28 |
£256.85 |
| Court Issue Fee |
£250.00 |
| Late Payment Compensation |
£100.00 |
| Total Due |
£13,106.85 |
| The Debtor settles the full amount
seven days following issue of the Claim Form and we account
to you on 15 April 2006 with cleared effects and our receipted
account for £117.50 |
£12,989.35 |
The service has cost
you NOTHING
and you have gained interest of £239.35 in the process.
|
