Case Outcome

Our client was owed £300, no response to a 7 day letter before action, so we commenced County Court proceedings. We obtained Judgment in Default and C was billed £82 + VAT and Court Fee. £100 Costs Order was included in the £400 Judgment.

How long do you have to wait to receive payment for invoices?

I’m a member of Birmingham Chamber of Commerce, and I receive their daily e-news.  Today (21st November 2011) I noticed an interesting article from RSM Tenon, detailing how long, small and medium sized businesses in the West Midlands have to wait to receive payment for invoices.  Their researched showed that 61% of the regions SME’s have to wait between 30-60 days to get invoices paid, up by 8% from the previous 6 months.  Only 13% received payment within the agreed 30 day payment period, down by 26% from January 2011.  It is unacceptable that 82% of businesses have to wait beyond the contractual payment period.

It is important that late payments are dealt with quickly, and therefore a robust credit control system be maintained.  It doesn’t have to be anything complicated, just a standard approach that you and your customers understand.  It can be very difficult to ask customers for payment, but it can even more difficult to lose a reputation for being a soft touch when it comes to settling an invoice.

At Mercian Law we suggest that your Terms of business are reviewed to ensure you have adequate protection in the event of late payment.  That you review your existing credit control procedures, or draft one if you currently don’t have one.  Or, for a fixed fee we can assist with the drafting if you prefer.

Case Outcome

Our client was owed £4000, we served a Late Payment Interest Notice for £10 + VAT, the debtors guarantor paid in full within 14 days.

Case Outcome

Our client was owed £900, for £10 + VAT for a Late Payment Interest Notice was sent to the debtor. Full Payment received within 21 days.

Case Outcome

Mercian Law was instructed to serve a Late Payment Interest Notice for a £900 debt, for a fee of £10 + VAT. Debtor paid in full in 14 days.

Case Outcome

Our client was owed £5500. We sent Late Payment Interest Notices costing £20 +VAT. Client agreed £4000 in full and final settlement (73%).

Case Outcome

Our client has settled an £18,000 claim for commercial rent arrears after paying just £10+ VAT to Mercian Law for a pre litigation letter!

Case Outcome

Mercian Law’s first client had a debt of £1000, and we issued the debtor with a statutory demand for £75 + VAT.

First ever blog post!

Hello and Welcome

Please be patient with me while I get to grips with WordPress, this is my first experience at blogging, and I hope it evolves into a really useful tool for me and all readers.  No doubt the pages etc will change and improve over time and I hope you join me for the journey.

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