How does it work?
StatClaim successfully assists UK companies and institutions to tackle bad debts, late payers and to claim their statutory right to late payment fees 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 at no cost to our clients.
When you submit an overdue invoice to us to recover payment, we calculate the statutory late payment fees due for each invoice. By applying these charges, and retaining this as our fee, we can offer this service to our clients without charging any commission and so you get to retain 100% of the value of your invoice(s).
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 outstanding 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.