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interest

interest

Postby megaman » Sat Jul 08, 2017 1:25 am

At what point can you charge 8% interest on a debt which you are owed?

pre court stage?
from the moment proceedings are issued?
from when you get your judgement?
from when you instruct HCEOs (high court enforcement officers)?
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Re: interest

Postby dls » Sat Jul 08, 2017 4:04 am

From very distant memory

1) from the date when repayment of the date became due, you claim contractual interest as part of your claim. If no interest rate is set it is up to you to persuade the court that interest should be applied.

2) From the date of judgment, the judgment debt carries interest at the statutory rate, replacing the contractual interest.
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Re: interest

Postby Hairyloon » Sat Jul 08, 2017 8:00 am

28 days overdue leaps to mind from somewhere.
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Re: interest

Postby atticus » Sat Jul 08, 2017 8:24 am

The OP may find the Late Payment of Commercial Debts (Interest) Act of assistance, if she is owed money by a business.
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