Lovetts

Value of business debts chased through court system up 39% The latest report from commercial debt recovery law firm, Lovetts, shows that businesses are getting tougher with their customers on outstanding debts.

Government announces reforms to solving disputes www.Lovetts.co.uk

Overdue invoices chased 33 days sooner The customer might be king but businesses have run out of patience with late payers, according to commercial debt recovery law firm Lovetts Plc. Overdue invoices are now being chased with a Letter Before Action (LBA) 33 days sooner than they were in the same period in 2010 and in June 2011, Lovetts saw the highest number of court claims for late payment made by clients for well over a year.

Lovetts urges companies to claim interest and compensation Businesses struggling with poor cashflow due to late payers are missing a major opportunity to claim late payment interest according to Lovetts Plc, one of the UK’s leading law firms specialising in debt recovery. Lovetts has found that in the past year approximately 36% of claims issued included late payment interest.