Debt Recovery

Debt Recovery may be necessary, whether you are an individual or business. With the struggling economy people are not paying their bills, or waiting that extra month. Through our reputable litigation department we can assist you in recovery of your debts.

During the recovery process we will endeavour to assist you in maintaining your working relationship with your business customers.

We can advise on;

  • Commercial and Personal Debt collection
  • Debt recovery through the Courts and statutory demands
  • Initial debt chasing letters and negotiation with debtors

Please contact Angela Shropshall-Clark to discuss a range of options that are available to you or your company including fixed fee agreements.

 

Fees Information

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 Costs VAT Court fee Total
Up to £5,000 £350-£500 £70-£100 £35-£205 £455-£805
£5,001 to £10,000 £350-£750 £70-£150 £455 £875-£1,355
£10,001 to £50,000 £350-£1,250 £70-250 £500-£2,500 £920-£4,000

Additional Disbursements

Disbursement Cost
Identification Verification fee (including VAT) (per person) £12.00

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
  • The court fee for claims over £10,001 are calculated at 5% of the claim value
  • Court fees quoted are for claims  submitted by post

Our fee includes:

  • Taking your instructions and reviewing documentation
  • Undertaking appropriate searches
  • Sending a letter before action
  • Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing claim
  • Where no Acknowledgment 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 28 days, providing you with advice on next steps and likely cost

How long will it take?

Matters usually take 2-4 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.