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Services

Services

Overdue Debt Collection

Slow and overdue receivable accounts are a costly and time consuming exercise. Staff are better employed in reducing the current days outstanding and creating a prompt payment environment.

How and why can Pegasus assist - Our overdue collections department solely concentrates on delinquent debt, our in-house systems and trained staff are totally tuned to difficult accounts.

The long standing philosophy of specialised continued effort and building a personal professional relationship with the debtor has always been the focus for Pegasus success.

Even in the advanced business world of today, experienced people are still the primary tool of receivables collection.

No collection – no charges

 

Interest & Cost

LATE PAYMENT OF COMMERCIAL DEBTS (INTEREST) ACT 1988 having been passed by Parliament makes provision for a Creditor to charge simple interest and penalty cost on each individual invoice that has not been paid within the agreed terms and has exceeded the days allowed for payment.

INTEREST is calculated at 8% plus the prevalent Bank rate at the time of 30 days after invoice date. i.e if the invoice was dated 07/02/2010 the Bank rate at that time was 0.5% so that the total interest would be calculated at 8.5% x days overdue.

PENALTY COST is calculated at a fixed amount on each individual invoice:

Total Invoice value Penalty Cost
up to £999.99 £40.00
£1000.00 to £9999.99 £70.00
£10000.00 or more £100.00

Pegasus will add interest and cost on all commercial debt, either as requested by Clients own terms or statutory regulation.