Invoicey Fees
We work on a No Win, No Fee basis for all Late Paid Invoices.
For Invoices paid late we work on a No win, No Fee basis regardless of the Invoice amount. Therefore, if we do not manage to successfully claim back compensation and Interest for you we will not charge you an admin fee and there will be no hidden charges to pay.
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For successful claims, you the customer/creditor keep 100% of the compensation. We equally share the Interest raised and charge an admin fee to the debtor based on the time taken to recover the amount.
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Under the Commercial Debt Regulations Act 2013 you are entitled to claim back late fees dating back 6 years which include a reasonable admin charge, which can rise the longer it takes to recover monies. As we act on your behalf, we recover the admin charges from the debtor, so you do not have to worry about being charged for any of our time and services.
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Any associated costs for making telephone calls, SMS messages or sending letters is also recovered from the debtor as part of the admin fee so you always keep 100% of the compensation.
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Invoices Not Yet Paid.
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For Invoices which are still outstanding and have become an unapproved debt then we have tiered fee structure based on the original Invoice amount.
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For Invoices below £1000.00 we simply charge an admin fee as part of the Late Payment fee. Therefore the admin fee will start at £40.00, rising to £110.00 depending on how long it takes the debtor to pay the whole debt amount.
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For Invoices above £1000.00 but below £2499.99 we again charge an admin of £40.00 rising to £110.00 depending how soon the Invoice gets paid. However we add a flat £150.00 commission fee which the creditor is liable to pay on receipt of the original Invoice being paid. However we deduct Late fees (I.e. Interest and compensation fee) from this amount meaning the creditor can expect to pay less than this if the debtor pays the statutory late fees.
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The same process is applied again for Invoices between £2500.00-£4999.99 with the fee rising from £200.00 and for Invoices between £5000.00-£9999.99 rising to £250.00. We simply deduct the Late fee compensation and Interest from this amount so again you can expect to receive a discount on our services.
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For Invoices above £10,000 we charge 5% commission on any Overdue Invoice to the creditor for recovering outstanding Invoices. However we do charge the debtor statutory late fees which is deducted from our commission fees therefore providing the creditor with a discount on our fees.
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This fee remains in place until it reaches the £150,000 threshold where it then increases to 7.5% and remains in place on Invoices up to £500,000.
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*For Invoices above £500,000 we can provide you with a quote for our services. Please Get in touch.
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*If we exhaust all attempts to recover an unpaid Invoice or if the debtor goes into insolvency or the creditor simply cancels our services then the Creditor will be liable to pay costs associated with chasing the debt up to that date. The Creditor will be invoiced on a 30 day payment period at the end of each month under strict payment terms.
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*For Invoices which have been paid but were paid late then Invoicey will simply chase Late fees based on the number of days late and the Interest reference rate.
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*For Invoices or Late Invoice Demands created using the Invoicey Builder system will use Stripe to take payment and therefore will incur a 2% transaction fee.
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*Invoicey Fees relate strictly to chasing outstanding and Late Invoices up to when legal action begins. Any additional County Court Action, Judgement, Penalties or Enforcement which involves an Invoicey partnered Solicitor or Creditor Solicitor is not included within this and is deemed additional.