Are your customers paying late? You may be able to claim compensation!
What is a Late Payment Demand?
A Late Payment Demand (LPD) is a Letter Before Action claiming Late Payment interest and compensation.
LPDs are only available via our Web Site.
Why use it?
LPDs are a highly cost effective way of getting a contribution to your collection costs or even covering them completely. You can claim interest at 8% over Bank of England Base Rate and compensation of £40 - £100 for each unpaid invoice.
What does it cost?
Unlike our competitors, we don't differentiate between LBA and LPD pricing, so you can increase your recoveries for just £2.00 using our web forms on English & Welsh debts.
When can you use it?
You can claim Late Payment Interest and Compensation if:
- You have supplied goods and services
- Your buyer bought for business purposes
- The contract is not a consumer credit agreement
- The contract does not contain a provision for interest on overdue invoices (or any other substantial remedy for non payment)
- The order was placed after 6/8/02
Late Payment Interest and Compensation - more information
If you can't send an LPD because your contract contains a provision for interest, you could claim contractual interest in your LBA
ACCELERATE
If you are entitled to claim Late Payment Interest and Compensation and wish to take advantage of free letters before action then you may be suitable for our ACCELERATE service. Click here for more details on the service.
Back
