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This work covers claiming, negotiating and enforcing interest on money owed in a business debt context, including contractual interest and statutory interest under UK law. It involves assessing what interest can be charged, calculating the amount due, and pursuing payment through the courts where necessary. A solicitor in this area drafts and reviews demand letters, negotiates with borrowers, prepares court or tribunal proceedings, and handles enforcement steps if the debtor does not pay.
Contractual and statutory interest must be accurately calculated and justified. A solicitor handles drafting and serving claims for interest alongside principal sums, advising on the applicable rate, time limits, and any relief or defenses. They prepare court documents, respond to defenses, and pursue enforcement options such as judgments, attachments or orders for payment, ensuring the client’s position is protected throughout proceedings.
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