DB has been consistently fleeced by a supplier over a number of years in the business he plays at running runs.
They are charging him interest on his outstanding balance some months and not others, but the rate is 2% per month. I understood that interest was statutory rates unless a contract was signed. As far as I know he has signed no contract with them saying that contractual interest rates apply, but does the fact that he has essentially been paying 2% over the years he has traded with them does that mean there is a contract in force, or can I query the interest rate?
Ta
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Legal matters
Late Payment Interest Charges
1 reply
MagicLlama · 07/05/2013 09:54
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