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What is the legal interest rate to charge for past due balance?

Arizona

We have a client that owes us money. The invoice originally sent in May 2022. There have been edits made to the invoice, for the client to match up with PO's. The company still has not paid us in full for the project. What is the legal interest rate we can charge for the past due balance? When can I back charge the interest to? Arizona Prompt Pay Obligation says 18% annually, but not sure if the client falls under the Prompt Pay Obligation.

1 reply

Mar 17, 2023
Thank you for reaching out to the Levelset legal community. If you are in need of specific advice for a current legal situation, you may want to consider reaching out to a licensed attorney in your state directly at their office. This forum is public, so it may not be the right place to discuss a sensitive legal issue. Levelset provides a list of attorneys in each state here: https://www.levelset.com/payment-help/experts/experts-by-state/ . From that directory you may find a law firm in your area to call privately.
 
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