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mike_m · 03-09-2004, 07:29

I have a client who is overdue paying his invoice for 2 months now, and I just want to see if any of you guys take the route of charging interest on late payments. It's worked out like this:

invoice amount (say £1000.00 ) + (base rate of interest [4.75%] + 8% ) for a year , then divided up into daily amounts - in this case it would be £127.50 / 365 = £0.35 per day added on every day the invoice is overdue..

He is normally late, but does end up paying - he's never taken this long, or used so many rubbish "i'm sending it today" excuses before.. Just wondering what tactic I should use - Charging interest, telling him he has to pay up front for any more work, sending the boys round for his kneecaps etc..

any thoughts?

03-09-2004, 07:29	#1 (permalink)
mike_m Work faster microphone .. Join Date: Feb 2003 Location: Cambridge, UK Posts: 1,708	charging interest on late invoices... I have a client who is overdue paying his invoice for 2 months now, and I just want to see if any of you guys take the route of charging interest on late payments. It's worked out like this: invoice amount (say £1000.00 ) + (base rate of interest [4.75%] + 8% ) for a year , then divided up into daily amounts - in this case it would be £127.50 / 365 = £0.35 per day added on every day the invoice is overdue.. He is normally late, but does end up paying - he's never taken this long, or used so many rubbish "i'm sending it today" excuses before.. Just wondering what tactic I should use - Charging interest, telling him he has to pay up front for any more work, sending the boys round for his kneecaps etc.. any thoughts? __________________