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Late Payment: Late Payers Allowed 20 More Days To Pay In Q1 2015

Time From Invoice To Letter Before Action Increases 24% Year On Year

New figures on the amount of debt UK businesses are dealing with through late payment of their invoices throw into sharp relief the huge scale of the issue. With respected industry bodies such as The FSB and IoD calling for action, the new figures from Lovetts,

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Late Payment Bullies Liable For Compensation Claims In £Millions

Tesco Could Face Claims Amounting To Over £60m From Suppliers

Lovetts, the commercial debt recovery law firm is warning major businesses who have consistently paid their suppliers late that they could be liable for compensation claims amounting to millions of pounds.

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Businesses Must Claim For Late Payment Compensation

Massive payout due to firms, for late payments going back 6 years

Today, the Institute of Directors has said that large businesses risk regulation by failing to pay their bills on time. James Sproule, chief economist at the IoD said: “If large businesses continue to behave in this way, they are inviting regulation.

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Debt Recovery: Company Recovers Over 41k In Late Payment Compensation

This case study shows how by using the Claim the Unclaimed service provided by Lovetts, which uses the Late Payment of Commercial Debts (Interest) Act 1998 to recover historic interest and compensation, one client was able to recover over £41,000 in interest and compensation on past late paid invoices over the last six years. 

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UK Businesses See 30% Increase In Debt Through Late Payment Of Bills

Average Level Of Debt Reaches £220,000 But Is 'Tip Of The Iceberg'

The amount of debt a typical UK business is facing through customers paying late or not at all is growing at an alarming rate. In the fourth Quarter of 2014, Lovetts,the commercial debt recovery law firm saw a 30% increase in the level of debt each of its customers is pursuing for payment through Letters Before Action (LBAs)

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Can I Claim Late Payment Interest From An International Debtor?


A UK creditor can usually claim Late Payment Interest and Compensation from a debtor outside the UK, provided one of the following applies:

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What Pitfalls Are There In Claiming Interest In Company T&Cs?

More and more businesses are including clauses in their Terms & Conditions to allow them to claim interest or costs from their debtors for late payment. However there is a significant risk that if these clauses are not drafted properly you could end up losing out on your entitlement to these costs.

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Can I Sue Ex-Customers For Back-Compensation Over 6 Years?

In short, provided you are entitled to use the Late Payment of Commercial Debts legislation then YES! The legislation applies to any and all debts where the contract was formed within the last 6 years (regardless of whether the debt has subsequently been paid) and where you either have a clause in your contract stating that the Late Payment Act (LPA) applies

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How Can I Maximize The Benefits Of The Late Payment Legislation?

The Late Payment Of Commercial Debts (Interest) Act 1998 had two purposes. Firstly, to compensate creditors for delayed payments. Secondly, to deter late payment. It is generally recognised that it has failed to change the payment delays culture but there’s no reason why you can’t use it to change the culture of your customers.

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Businesses Get Lax On Late Payment As Confidence Grows

Average Debt Owed To Business Rises 

The current boom in UK business confidence could be short-lived if firms fail to keep an eye on cashflow warns Lovetts, the commercial debt litigation firm. In the third quarter of 2014, businesses saw the average debt owed to them rise by 17% on Q2 2014.

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2 out of 3 Businesses Are Failing To Take Advantage Of Free Debt Recovery

Yet almost 1 in 4 is experiencing more late payment problems, reveals Lovetts

August 2014 - A survey of over 100 businesses by Lovetts Plc, the commercial debt recovery law firm has found that while late payment issues have worsened in the past year, few firms are fully exploitingtheir legal and regulatory rights

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Controlling costs in credit control

Lovetts offers cost-effectiveness reporting and 12 point guide for Credit Managers www.lovetts.co.uk

Lovetts Plc, the commercial debt recovery law firm is making it easier for businesses to understand and therefore control their debt recovery costs

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