From Which Date Does Interest Accrue on My Claim?

Documenting Claims and Evidence

Interest does not always begin on the invoice or transfer date. Under Article 117 of the Turkish Code of Obligations, default on a due debt generally follows the creditor's notice, with statutory and contractual exceptions. A jointly fixed payment day may remove the need for notice. First establish when the debt became demandable.

Then examine the legal basis for the interest type and rate. Commercial relationships, consumer transactions, foreign-currency debts, and valid terms may differ. One online rate should not be applied to every period and debt. Part payments or rate changes require separate periods, with principal and ancillary demands clearly shown.

For a notice, both the text and proof of receipt are needed. An addendum about the payment day or later extension may change calculation. The debtor acknowledging delay does not make every interest item lawful. Loss exceeding interest should not be treated as an automatic inflation-difference calculation.

Prepare contracts, invoices, notices and service records, and all dated payments. Exchange loss, default interest, and loss exceeding interest are separate heads; check each basis and period before fixing the enforcement amount.