![]() Multiply this figure by the per cent of interest you are charging. The first thing to note is that the Ontario Small Claims Court has a monetary limit of 35,000.00. You can calculate the total interest payable by dividing the unpaid invoice total by 365 (being the number of days in a year), then multiply this amount by the number of days the payment is overdue. What is the amount outstanding of your unpaid invoice/account Whether you have an overdue account amounting to 500.00 or 50,000.00, money owed means something to everyone. Scope of the project which includes actual work, timelines, and deadlines. The agreement must address: Payment Schedules (e.g., monthly, quarterly or percentage-wise) Preferred mode of payment agreeable to both parties. If the debt is still unpaid, you will need to remind the customer that the law allows for the debt to be paid within 60 days but if after this time payment is still not made, it is best to send a fax to the creditor as this is the first step in legal action. However if the amount you wish to recover is greater than £25,000 (a Multi Track claim), we may still be able to assist for an additional fee so please contact us with details. This is assuming they have not made further payments during the year. The legal contract ensures that the rights and legal obligations of both parties are understood and agreed upon. These services are suitable for most undisputed debts under £25,000 where both parties reside and the debt was incurred in England or Wales (known as a Small Claim or Fast Track Claim). We offer the below cost effective fixed fee debt collection packages, from sending a debt recovery solicitors letter to taking your debtor to court. So you can be confident about the debt recovery legal advice we provide. Our legal services are structured around a simple fixed fee with no deductions taken from the amount you are owed.Īll our debt recovery work is conducted or supervised by a qualified solicitor with over ten years' experience in civil litigation. If you decide to take legal action for non-payment of invoices, you initiate the process with a formal demand letter to the defendant, whether it be an individual or a business, or both. ![]() We can take legal action on your unpaid invoices on your behalf, and usually only require a copy of the unpaid invoice/s to start the debt collection process. The debt recovery services we offer are flexible and depend entirely on your circumstances and budget.
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