Now my wife is handing over a few naughty customers that didn't make payments as they were supposed to. Now her contract with her customers clearly state that they have 30 days to pay their account. If they do not pay it, she will ad 5% interest per month on the outstanding fee until it is paid. This contract was drawn up in cooperation with an attorney. Now the debt collectors says, nope the NCA prohibits a business from doing that, and they will only collect the original outstanding fee, plus legal costs.

Now this doesn't make sense to me. So if I am a clever ahole I can make a fee interest free loans and make payment just before the last whistle blows and wopee I score the interest from the money lying in my bank account or working for me in my business. Off course this makes no sense to me, to legalize theft in that manner

Can anyone confirm that this is the case?