How does it work?
StatClaim successfully assists UK companies and institutions to tackle bad debts, late payers and to claim their statutory right to compensation and interest on late payments, under the Late Payment of Commercial Debts (Interest) Act 1998. By applying this legislation to your current debtors, we are able to provide a sympathetic, efficient and professional debt recovery service from as little as 10%.
In addition to turning an overdue invoice in to a significant asset, by providing you with a regular income stream, you will also benefit by having your own de-facto “in house” solicitor*, who can advise you on all your commercial and drafting requirements enabling you to achieve a significant cost saving on your current legal facility.
Furthermore, we can even claim compensation and interest on historic late payments (in the last 6 years) providing, potentially, tens of thousands in additional revenue.
Some of the benefits we offer are:
- Claim a minimum of £40 for every invoice paid late in the last 6 years;
- Benefit from “in house solicitor”;
- We take care of the whole process from start to finish;
- Retrieve ‘cold case files’ that may have been written off too soon; and
- Review of your contracts, agreements and current disputes (if any).
Who is it for?
We work predominantly for SMEs, particularly in instances where they have outstanding debts owed by much larger companies. As a small to medium sized company, you can benefit from our resources and legal expertise to successfully recover outstandnig invoices fron these types of companies.
We also currently provide this service to a number of B2B finance and leasing companies but any UK company who regularly issues a reasonable volume of invoices can benefit from this unique service. Even if your company only issues a small number of invoices and experiences late payment of these invoices on a regular basis, you will also benefit from this service, particularly if you have suffered late payments going back over a six year period.
How much does it cost?
Our service is provided on a strictly ‘no win, no fee’ basis and our success fee starts from as little as 10% of the invoice value.
However, in many cases, the service is at no cost to you as the compensation and interest that we recover will offset the cost of our commission.
Click the button below to contact us today for a detailed breakdown of how this can work for you.