Debts can arise in all walks of life and we regularly advise and assist businesses and individuals alike.
The bulk of our debt recovery instructions come from businesses across various sectors. With many years of experience and strong expertise in litigation both in and out of court, our debt recovery service is fast, efficient and economical.
Why Us
We have an experienced team who can assist you with recovering both disputed and undisputed debts. This page covers our pricing for undisputed debt recovery – please get in touch to find out more about our fee structure for pursuing disputed debts. We pride ourselves on exceptional customer care skills enabling you to send out the right message and retain the goodwill of your customers whilst recovering outstanding payments.
We can offer you clear, practical advice and will discuss all the options available to establish the most appropriate way of dealing with debtors. We have tried and tested processes in place to ensure we can recover undisputed debts quickly, efficiently and cost-effectively.
Pricing
Our hourly rates range from £235– £370 (+20% VAT) depending on your solicitor’s experience, the complexity of your case and the individual circumstances.
We appreciate that the fees involved in debt recovery are important to you. We review our fees on a regular basis, considering client’s feedback, to ensure we continue to offer a cost-effective debt recovery service.
We typically work on an estimated fee basis, so that from the outset you know what the fees will be for your transaction. These costs apply for unpaid and undisputed payment of invoice(s). If during the debt recovery process, the matter becomes disputed or enforcement action is required (where you need to appoint a bailiff), we will discuss the change in fees with you and agree a way forward.
When claiming costs from the debtor, it is important to note that the VAT element of any fees cannot be claimed. You can claim interest and compensation and we will advise you of the
Debt Value | Court Fee | Our Fee | Total Estimated Fee |
|---|---|---|---|
Up to £5,000 | £205 | £1,000 - £3,000 | £1,405 |
£5,001 - £10,000 | £455 | £2,500 - £6,000 | £3,455 |
£10,001 - £1,000,000 | 5 % value of claim | £7,500 - £50,000 | £9,500 - £60,000 |
VAT will be added to our fees at the current rate of 20%.
Disbursements
Disbursements are costs related to your matter that are payable to third parties, such as court fees.
We handle the payment of the disbursements on your behalf to ensure a smoother process.
Court Fees £35 – £10,000 (Value Dependant)
Legal Representatives £35 – £10,000 (Value Dependant)
Enforcement Fees £60 – £250 (Value Dependant)
VAT is added at 20% on all vatable disbursements.
Exclusions
Our fees include items detailed above; however there may be factors which would typically increase the cost of the fees. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- Instructing a Bailiff
- Tracing agents
- Investigation agents
Time Scales
A typical debt recovery can take between 6-24 months, from instruction through to payment from the other side. This may be quicker or longer depending on whether we are required to issue a claim and whether the other side pay promptly on receipt of any Judgement issued by a court. As detailed above, if enforcement action is required, we will discuss the fees and timescales involved.
Key Milestones
With every transaction there are key milestones, which may vary according to individual circumstances. Our fee will include these milestones and may be as follows:
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Issuing a letter before action requesting payment from the debtor
- Receiving payment and sending this on to you
- Drafting and issuing a claim form to the relevant court if the debt is not paid
- Applying to the court to enter a Judgement in Default if the debtor fails to respond to court proceedings
- Contacting the other side to request payment where a Judgement in Default has been issued by the court