Chasing a debt

[Wanderer]

I think that I am going to send the invoices out again along with an email asking when they are going to be paid. Depending upon that response (which I don't expect to be positive) I will go forward with the legal action.

40 grand. That's a big chunk of your mortgage paid off. That's a really nice new car. That's a 6 month round the world holiday. Do you want the money or not!!!!??? Well stop pissing about, hit this guy hard and fast and get what you are owed.

1. Dig out a copy of the invoices. Add penalties per invoice and statutory interest. This is not something you are asking politely for, it is your legal right to claim this.
2. Send the invoices to the director of the company with a letter before action. Demand payment within 14 days or you will take court action. Go to the post office and send the letter "Signed for" and keep the proof of posting.
3. Start legal action with Moneyclaim Online.

Other people have recommended debt collectors as being quite good to, that may be another method of pursuing the debt. The longer you leave it, the more chance of not getting paid.

[VectraMan]

There are solicitors who'll send the letter for next to nothing (or even nothing in some cases). I used Lovetts when I had to do this, and was quite impressed with them, and their system automatically calculates the statutory interest on your debt. I would find somebody like that rather than do it yourself. Proper debt collectors may be more effective, but will want a big cut.

[cojak]

WVMS

[MarillionFan]

There are solicitors who'll send the letter for next to nothing (or even nothing in some cases). I used Lovetts when I had to do this, and was quite impressed with them, and their system automatically calculates the statutory interest on your debt. I would find somebody like that rather than do it yourself. Proper debt collectors may be more effective, but will want a big cut.

I also agree. You've let it go too far for you to just start sending letters. I would seek professional help on this.

[SueEllen]

Proper debt collectors may be more effective, but will want a big cut.

But considering the OP has no balls that will be the most likely way they will see any money.

You can take a company to court but there are easy ways they can avoid paying you what they owe even if you win.

A good debt collector will confirm whether the company has any money/assets to pay you with before pursuing the debt. After all if you don't get paid they definitely won't get paid.

[Platypus]

You are sending COPY invoices, not issuing new ones, so the VAT stays at the rate it was then.

[d000hg]

I've had a situation where I have invoices months in arrears, but I trust the client and am still working with them and know they in turn are waiting for payments. However your situation sounds more cut & dried, I would certainly speak to someone qualified. I would prefer to warn the client but I suggest you discuss that with your expert advisor first.

[Old Greg]

You are sending COPY invoices, not issuing new ones, so the VAT stays at the rate it was then.

Out of interest, is the VAT payable by the Ltd to HMRC on invoices that have not been paid or did I imagine that?

[SueEllen]

Out of interest, is the VAT payable by the Ltd to HMRC on invoices that have not been paid or did I imagine that?

Depends on what VAT scheme you are on.

Linky

[Old Greg]

Depends on what VAT scheme you are on.

Linky

Cheers.