The late payment of outstanding invoices and bad debts can seriously affect a business’s cash flow. It is important to have effective terms of business in place – setting out the credit period, amount of interest charged on outstanding payments and the process for recovering debts.
Pearson Rowe has the knowledge and experience to manage both large and small debts for a broad spectrum of businesses. While a letter from us to your debtors often results in full payment with no need for further legal action, we can assist in recovering the money through court proceedings, if necessary.
Should your terms and conditions not cover charging interest on debts, we can advise on claiming the interest through the Late Payment of Commercial Debts Act 1998.
For more information on any of the high quality legal services provided by our insolvency law solicitors in Birmingham, please contact us.