Do you want to recover more money from your debtors and move quickly through the claims process with the minimum of delay? Then ACCELERATE is the service that you should use to speed up your recoveries. It works for goods and services claims against businesses based in the UK where you are entitled to claim under the Late Payment legislation.
The legal process starts with a FREE* seven day Late Payment Demand [LPD]. This is a web-based service using our CaseManager online software. Based on your input we will calculate your late payment interest and compensation. Under the legislation you are entitled to a minimum compensation of £40 per invoice for each invoice under £1,000 [it rises to £70 between £1k and £10K and then £100 above £10k]. Interest will be claimed at 8% above the bi-annual rate set by the Government.
Statistically, over 80% of all pre-action letters that we send are resolved without the need to issue the claim. Not all debtors will pay the interest and compensation but it does enable you to recover some of your out-of-pocket expenses before having to resort to taking legal action against the hard-nosed debtors. Legally, you also have the right to issue purely for the interest and compensation, so if you have already lost the debtor's business or do not wish to trade with them again you can consider issuing a claim after clearing the original debt amount.
The UK economy is showing extreme signs of deteriorating finances within companies and you need a positive and pro-active law firm to ACCELERATE cash flow from customers who are unwilling to pay within a reasonable period of time. Insolvencies are rising and delaying recovery action increases your chances of incurring a bad debt.
CaseManager enables you to update cases online with all payments or disputes that you receive. Where we haven’t heard from you on Day 6 we will fax you to advise that in the absence of a satisfactory response we will be in a position to issue the claim after the seventh day. You have the choice of delaying the issue for up to a further three days. Obviously if your customer has paid you or raised a dispute, you can close the case by updating CaseManager. On the agreed day we will issue the claim based on the initial information provided at the time of instructing us. Where you need to amend the balance before we issue, this can be done online.
A similar process will be carried out should judgment and execution be required on any unpaid balances. For sums over £600 we will instruct the High Court Enforcement Officer, below that figure it will be sent to the Court Bailiff.
To ensure that you have the best possible advice available throughout, we appoint a named Account Executive to look after you. They will be delighted to give advice at any stage in the action. We have full support services and can assist with a wide range of enforcement options including Statutory Demands and Winding Up Petitions should the HCEO or bailiff be unsuccessful.
* Subject to a fair usage policy of an average of one claim being issued for every 25 free letters
Please read our Frequently Asked Questions as they cover some of the key aspects of this service,
