Construction Industry – Case Study
Age of Invoice: 54 days old
Principal Sum – £37,770.80
Interest, Compensation and Reasonable Costs – £2,096.85
Days to recover: 48 hours
Client – Specialist contractors (steeplejacks and lightning conductor engineers) vs Debtor – Construction of domestic buildings
Principal Sum – £37,770.80 – Interest, Compensation and Reasonable Costs – £2,096.85
We were instructed by a specialist contractor in March 2017 to recover a commercial debt against a construction company for a principal sum of £37,770.80. Under “The Late Payment of Commercial Debts (Interest) Act 1998” our client was also entitled to claim interest, compensation and reasonable costs to the sum of £2,096.85.
We successfully recovered the full principal sum and additional costs totalling £39,867.65, within 2 days of instruction. The invoice dated back to January 2017, being 54 days old at the time of instruction.
If you have any overdue or problematic accounts you would like to discuss, contact us today to see how we could assist you in recovering these debts. Call 01698 821468 or email [email protected]