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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3655
Experience:  Solicitors 2 years plus PQE
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Hello I have been the creditor of a deceased estate. I

Resolved Question:

Hello

I have been the creditor of a deceased estate. I have recently been paid, 9 months after submitting my invoice. Can I claim any sort of interest on the outstanding amount?

Thank you

Fiona
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi

Thank you for your question and welcome.

My name is XXXXX XXXXX I will assist you.

There are three ways you can claim interest:
1. If the debt related to a contract which contained a provision allowing you to charge interest (for example standard terms and conditions of trading);
2. Statutory interest under the County Court Act at 8% per annum. This would be obtainable as part of a Judgment if you have one and the interest could only be claimed from the date of Judgment;
3. Late Payment of Commercial Debts (Interest) Act 1998 under the above statute if the debt relates to a business debt.http://www.legislation.gov.uk/ukpga/1998/20/contents

I would consider though that if the estate is not particularly large and they have to pay other creditors then there may not be any money left in the pot to pay interest. If that were the case suing for interest may just be a waste of time and money.

Can I be of any further assistance?

Kind regards

AJ
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