Debt Recovery Pricing

Thank you for looking at our Debt Recovery services. Debts can arise in all walks of life and we regularly advise and assist businesses and individuals alike.

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.

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, with transparent fixed fees.

We are proud to hold Lexcel Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.

Pricing

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 hourly rate of £272.00 plus VAT @ 20%.  This rate is based on a Court approved fee which is in line with the rates for a Grade A Solicitor based on their post-qualification experience.   

To give an idea of costs, if it is solely a case of drafting a Letter Before Action and the debtor then pays up our typical charges will be £190 plus VAT @ 20% for up to 10 debtors.  If further Letters are required then you will need to contact us to obtain a more in depth quote.  There may also be disbursements payable which could include bankruptcy searches and obtaining copies of Land Registry documents typically charged at around £20.00 plus VAT @ 20%.

if further work is involved this will increase timescales and costs.  It can take up to 4-8 weeks for negotiations to take place between yourself and the debtor and we would charge anywhere between £650.00 and £2,000.00 plus VAT @ 20% depending on the level of work, correspondence and negotiations involved.

Before taking Court action, you will be expected to try to use the above methods before issuing proceedings, however, if you are unable to resolve matters then a Court application may be necessary. 

Depending on the level of work and complexity involved in the matter we would charge between £650.00 and £1250.00 plus VAT @ 20% to deal with matters.  This may include but is not limited to, preparing statements, filing court forms, gathering evidence and attending meetings with you.  The above mentioned disbursements will also be necessary.

For matters where we have to issue money claims on your behalf and cases are relatively straightforward and the claim is undefended we offer a fixed fee rate for doing so depending on the amount of the claim as follows:-

If the value of the claim is up to £10,000.00 we will charge £600.00 plus VAT @ 20%

If the value of the claim is between £10,001.00 and £50,000.00 we will charge £950.00 plus VAT @ 20%

If the value of the claim is above £50,000.00 then we will charge £1,700.00 plus VAT @ 20%

There will also be Court fees payable as listed below:-

Claim up to £300.00 Court fee will be £35.00

Claim up to £500.00 Court fee will be £50.00

Claim up to £1,000.00 Court fee will be £70.00

Claim up to £1,500.00 Court fee will be £80.00

Claim up to £3,000.00 Court fee will be £115.00

Claim up to £5,000.00 Court fee will be £205.00

Claim up to £10,000.00 Court fee will be £455.00

Claim up to £200,000.00 Court fee will be 5% of the value of the claim

Claim over £200,000.00 Court fee will be £10,000.00

The timescales involved in this will be anywhere between 10-16 weeks and will depend on Court processing times.

If a Court Hearing is required this will also increase costs as more work and attendance at Court will be involved.  In those circumstances we will typically charge between £850.00 and £2,500.00 plus VAT @ 20%.  This can also increase time scales by an additional month or so depending on Court processing times.

DEFENDED CASES

Defended cases where the debtor denies the claim can increase the work involved substantially.  Where the value of the claim is up to £10,000 this is known as a Small Claim and we can deal with your case up to a hearing for a fixed fee of £3,500.00 plus VAT and disbursements.  For fast-track or multi-track cases (where value is over £10,000) we would need to discuss matters with you to have a better understanding of what is involved. 

The timescales involved in this will be anywhere between 6 - 18 months.  

Where a judgement needs to be enforced there will again be additional charges on top and we would need to discuss this with you at a meeting.   It may also be necessary to instruct Counsel to deal with very complex cases and again we would need to discuss their costs and options with you, however, we will always obtain a quote before instructing anybody and obtain your approval.

Please contact us to arrange an appointment or a telephone conference in order to discuss all matters involved so that we can provide you with a best cost estimate. 

Please note that 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.

Exclusions

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:

• Enforcement proceedings
• Instructing a Bailiff

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 Judgment in Default if the debtor fails to respond to court proceedings
• Contacting the other side to request payment where a Judgment in Default has been issued by the court