Phone Icon Request a Callback


You can charge interest on an outstanding debt either in accordance with your contract or at the statutory rate.

If you do not have a contractual rate of interest, the Late Payment of Commercial Debts (Interest) Act 1998 provides the basis upon which interest can be charged.

The Late Payment of Commercial Debts (Interest) Act 1998 relates to business debts only and allows you to charge interest at 8% above the Bank of England base rate.

If your debtor is an individual, the County Courts Act 1984 allow you to claim interest at the statutory rate of 8% per annum.

Contact Us

At GloverPriest, we understand navigating the law can be a difficult task to take on alone. That’s why we created this comprehensive guide to help promote information for everyone to use.

If you’re looking to speak to a solicitor, please call us from the number below. Alternatively, you can fill out our online form and we’ll be right with you.

Phone Icon 0121 794 5814

Take a look at some of our more frequently asked questions.

We are confident you'll find the information useful, and if you would like to know more or your question is not covered please contact us using our contact form at the foot of the page, or alternatively call us.

We use cookies to improve your experience and to help us understand how you use our site. By using this site, you accept our use of cookies. Learn more x