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Glossary

Glossary

Last updated: June 2026

Clear, UK-focused definitions of the terms that come up when you chase overdue business invoices. WolfX is software that helps UK B2B businesses prepare evidence-backed recovery workflows — it is not a law firm and does not provide legal advice.

What is a Letter Before Action?

The formal written demand a creditor sends before starting court action over an unpaid debt.

What is a Court Readiness Pack?

An organised bundle of invoice evidence prepared for internal, solicitor, or pre-action review — not a court filing.

What is late payment interest?

Statutory interest and fixed compensation a UK business can charge on overdue B2B invoices.

What is the Pre-Action Protocol for Debt Claims?

The pre-court steps that apply when the debtor is an individual or sole trader.

What is a statutory demand?

A high-risk, insolvency-route demand explained at a high level. WolfX does not issue them.

What is Money Claim Online?

The GOV.UK / HMCTS service for issuing a county court money claim. WolfX does not file claims.

What is a County Court Judgment?

How a CCJ is made and what it means. WolfX does not create CCJs.

What is Companies House verification?

Confirming the right company, number, office, and status before escalating.

What is the limitation period for a debt?

The general time limit for starting court action — usually six years for a simple contract debt.

WolfX is software for evidence-backed invoice recovery workflows. WolfX is not a law firm, debt collection agency, court, or payment processor. This site provides general information, not legal advice.