Debt Recovery Price Transparency

This price information is for assistance in relation to the recovery of debts for businesses up to the value of £100,000.00.

We are generally prepared to accept
instructions in the following ways:-

  • 1.     A fixed fee
  • 2.    Payment of fees, subject to our standard hourly rates
  • 3.     A damages based agreement

Please contact the office to discuss your
specific case. However, the following information is a general guide.

 

Legal Fees and disbursements (Disbursements are costs related to your matter that are payable to
third parties).

 

Debt value

Court Fee
(disbursement)

Our legal fee

Up to £10,000.00

Between £70 and £455.00

Between £1,000 and £2,500.00 plus VAT

£10,001 to £50,000.00

5 % value of the claim

Between £2,500 and £5,000.00 plus VAT

£50,001.00 to 100,000.00

5 % value of the claim

Between £5,000 and £10,000.00 plus VAT

 Please also note the following:

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.

 

What services does this fee include:

 

 

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, providing you with
advice on next steps and likely costs.

Please note that the fees quoted above do not
include the costs of enforcing the Judgement.

 

The experience of the people who may carry out
the work for you:

 

The work will be carried out by Rachael Braide,
Solicitor

 

The typical timescales.

 

 

 

Matters usually take between 4 – 26 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.