An alternative to the Letter Before Action letter is The Late Payment Demand letter, this is a preferred option for the majority of our clients.
The Late Payment Demand Letter allows you to claim Statutory Late Payment Interest (8.5% above base) and Compensation and to recover our reasonable debt collection costs providing your claim meets the following criteria;
- Both parties were acting in the course of business
- The debts are not consumer related
- There are no other types of Late Payment Interest in your terms and conditions.
If you meet the above criteria, we will calculate the sums we can claim for on your behalf by way of Late Payment Interest (currently 8.5% pa) or Compensation (70 to 100 per invoice).
If you are not eligible to send a Late Payment Demand you can still send a Letter Before Action.
As with all the steps in the Stripes legal recovery process, you will be in control of what happens next. You can make those decisions and issue your instructions including any supporting documentation by using one of the following methods;