interest on long-overdue invoices?

B

Bridget

Guest
If an invoice has gone unpaid for a substantial period of time - 6 months-2 years and beyond - can I claim interest is owed me too?

Should I put this on invoices in the future? Pay within 3months or interest/extra charges will apply? Is that legal?

***Totally*** fed up with trying to collect money.
:mad
 
oops!

Just saw this (below) on another thread, which seems to answer my question..... will be studying it closely!



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Does the EU "late payments in commercial transactions" rules not apply in cases such as this?

www.google.ie/search?hl=e...DcountryIE
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Here is a very good article on the http://newsweaver.ie/ernst/e_article000096360.cfm (Late Payment legislation)

Brendan
 
Brendan - the least you could do is give me credit for doing the Google legwork! ;)
 
Sorry Unregistered

But check the posting times of Bridget's and my posts.We must have hit the Add Reply buttons simultaneously.

Brendan
 
I'm having the same problem

Hi Bridget,

I'm having exactly the same problem with an I.T. recruitment agency here in Dublin. Mine have been overdue for several months now and they're not in a hurry to pay because I've since been made permanent by the company I was contracted to. Yes, under E.U. legislation you are entitled to invoice for interest on late payments.

I'm trying several routes to get my money. I went to my employers last Friday and told them of the situation. If my company has invoices outstanding with the agency they are not going to settle with the agency until I've been sorted out. I'm also looking into the possibility of my company paying me direct. I know there was a contract in place but the agency have broken the contract so I'm not obliged to abide by its terms now as far as I'm concerned.

I would be very worried if my payments had gone unpaid for 2 years. I don't know who you're dealing with but I only heard last week from someone else in the business that the agency I'm dealing with here in Dublin bankrupted themselves in the UK last year, shafted all their contractors so they didn't have to pay them and set themselves up again. If you're payments have gone unpaid for so long you should have issued them with a solicitors letter at this stage. Good luck!
 
money owing

just had a look in detail at the Late Payments in Commercial Transactions article.

"the regulations do not apply to.........(iii) transactions with consumers.......They do apply to business debts."

Does this mean that if the money is owed to you by an individual rather than a company, you CAN"T charge interest? What's the definition of a consumer?
Anyone know?


sm99, most of the money owed is owed either BY solicitors or individuals....... Solicitors letters recovered so little that the expense put me out of pocket!
 
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