Debt Recovery up to £100,000 Pricing
Our general charges are as follows:
Our fee (incl. VAT)
Initial advice and assistance: £90 (20% VAT)
Each 'Letter Before Action': £30 (20% VAT)
If the case is defended, then our charges will be based on our hourly rates between £125 to £250 (excluding VAT) per hour.
These costs apply where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed. If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs, if necessary, which could be on a fixed fee (e.g. if a one-off letter is required), or an hourly rate if more extensive work is needed.
Debt value Court fee Our fee (incl. VAT) Total
Up to £5,000 £25 - £205 £300 (20% VAT) £325 - £505
£5,001 - £10,000 £455 £300 (20% VAT) £755
£10,001 - £50,000 5% value of the claim £600 (20% VAT) £1,100 - £3,100
£50,001 - £100,000 5% value of the claim £1,200 (20% VAT) £3,700 - £6,200
Anyone wishing to proceed with a claim should note that:
• The VAT element of our fee cannot be reclaimed from your debtor
• Interest and compensation may take the debt into a higher banding, with a higher cost
The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.
Our fee includes:
• Taking your instructions and reviewing documentation
• Undertaking appropriate searches
• Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing claim
• Where no Acknowledgement of Service or Defence is received, applying to the court to enter Judgement in default
• When Judgement in default in received, write to the other side to request payment
• If payment is not received within 14 days, providing you with advice on next steps and likely costs
Matters usually take 4-14 weeks from receipt of instructions from you to receipt of payment from the other side, depending on whether or not it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of Judgement in default. If enforcement action is needed, the matter will take longer to resolve.
If you wish to find out further details, then please contact us on 01743 248148 or by email.
Please note that prices are correct as of 6th December 2018.