Lovetts’ Claim Calculator Puts Businesses In The Picture When Pursuing Bad Debts

Businesses troubled by late payment and bad debt but worried about the cost of taking legal action can now obtain an immediate indication of the money they could recover on top of the debt with the launch of an online Claim Calculator from Lovetts PLC – – the Guildford based law firm specialising in commercial debt recovery.

The Lovetts Claim Calculator has been created to help firms take maximum advantage of new Late Payment legislation introduced in 2013. Along with the debt itself, the legislation entitles businesses to pursue all the reasonable costs of recovering a debt, including any administration or legal fees, to the extent that the fixed amounts of compensation do not cover their costs.

Found on the information page of the Lovetts website, firms simply enter the details of the debt and the Lovetts Claims Calculator will instantly return an itemised estimate of the fixed costs the business can claim from a debtor plus any interest and compensation.

Bringing clarity to the complexities of late payment legislation, the Claim Calculator has been designed by Lovetts to empower businesses with the confidence to pursue bad debts in the knowledge that any expense incurred pursuing the claim could be balanced by the recoverable costs to which they would be entitled.

Existing Lovetts clients can access the Claim Calculator via CaseManager, Lovetts’ online client portal. These costs are automatically added to any claims being processed providing full visibility for the client.

Charles Wilson, CEO of Lovetts, comments, “The Lovetts Claim Calculator is simple to use and gives an immediate indication of the different types and levels of costs that can be recharged against the debtor when making a claim. We believe that if businesses know the costs that can be recovered as a minimum, they will have greater confidence in pursuing a claim to recover outstanding debt. However, before proceeding, we recommend getting free advice from one of our legal team to ensure they can actually claim.

“This enhancement to our website is part of Lovetts’ commitment to helping businesses reduce their legal costs and get the best results when chasing debts.”

9 January 2014