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Old 29-12-2016, 10:16 AM   #46
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Quote:
Originally Posted by addbuyer
If you were owed 1,000: the annual interest would be 80 (1000 x 0.08 = 80) you’d divide 80 by 365 to get the daily interest: about 22p a day (80 / 365 = 0.22) after 50 days this would be 11 (50 x 0.22 = 11)
Unless the interest is contractually set - e.g. older construction JCT contracts stipulate 5% over base rate
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Old 29-12-2016, 07:09 PM   #47
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To be honest at this point I would rather pay the original invoice in full - it's a business, and it is really not worth our while to fight this. So he gets away with it - wrong, but that's life.

My main issue is that I suspect the chap might still try and have his day in court simply in order to inconvenience us as much as possible... he submitted the claim only two weeks after the unpaid invoice was due, and he refused to re-invoice as per our request which would have seen him receive the 80% immediately. His manner is far from that of someone trying to make a reasonable effort to avoid litigation and reach an amicable resolution.

Also, having the notice served just before Christmas is not a coincidence. He most probably again tried to inconvenience us as much as possible.

Additionally the amount he is asking for as 'interest' is peculiar to say the least - I calculated it to be 124%(!) pa. Not sure if he made an honest mistake when calculation the interest (which should have been 8% pa) or there is some other reason for this.

In short, my difficulty is that I am not even sure that simply paying him now the original invoice in full will see an end to this saga.
Personally as a business owner I am confused as to why you want it re-invoiced, surly all he needs to do is raise you a credit note for the 20% then you pay the remaining balance (assuming he agrees to the 80% payment of the invoice)
If he is being a tool (which he sounds like he is) just pay the 80% and leave the 20% as an outstanding balance on your accounts then write it off at the end of the year.
Either way is far easier than going via a CC for a silly amount.
Its far too easy for a claimant to put a case in as it costs pennies these days
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Old 29-12-2016, 07:25 PM   #48
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Originally Posted by andyran View Post
personally as a business owner i am confused as to why you want it re-invoiced, surly all he needs to do is raise you a credit note for the 20% then you pay the remaining balance (assuming he agrees to the 80% payment of the invoice)
if he is being a tool (which he sounds like he is) just pay the 80% and leave the 20% as an outstanding balance on your accounts then write it off at the end of the year.
Either way is far easier than going via a cc for a silly amount.
Its far too easy for a claimant to put a case in as it costs pennies these days
whs ^
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Old 29-12-2016, 08:02 PM   #49
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Originally Posted by ShinyF1 View Post
Unless the interest is contractually set - e.g. older construction JCT contracts stipulate 5% over base rate
I tried that on my first claim and it was thrown out. Use the Money Claim Online Service and it's their interest rate. That's why I said earlier about getting your claim right. Good shout though.

I guess JCT would apply in a crown court
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Old 29-12-2016, 08:16 PM   #50
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We always generate a additional late payment invoice with standard admin fee plus interest before even taking any further litigation. That alone sometimes gets the debt paid.
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Old 05-01-2017, 11:24 PM   #51
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Knowing the amounts would help us put it in perspective.

You can still contact and sort out the matter directly with the contractor, just make sure its done via email for the trail.

I have unfortunately had to start 2 small claims actions, both times the defendant paid me directly before it went to court- what they owed me plus court fees and costs for my time dealing with it.

The guy would be unlikely/stupid to refuse your offer of full payment as out of court settlement..


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