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Debt Collection – Decrease in Interest Rate on Judgement Debts

The Courts Act 1981 (Interest on Judgement Debts) Order 2016 (Statutory Instrument No. 624 of 2016) came into operation on 1 January 2017. The rate of interest payable on judgement debts has been substantially decreased from 8% to 2% and no doubt will be well received by judgement debtors.A copy of the Statutory Instrument is available for download here.

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