Costs and Service Information
Debt Recovery
Prices
Please note
that there will be two elements to the prices as set out below:
1.Fees charged by Marlow Braide Solicitors Limited; and
2.Fees payable to third parties.
Please ensure
that you consider both parts of the price information.
Fees charged by Marlow Braide Solicitors Limited
Pre-Court Action
|
Debt value |
Our fee |
VAT (charged at 20%) |
Total |
|
Up to £5,000 |
£250 |
£50 |
£300 |
|
£5,001 – £10,000 |
£500 |
£100 |
£600 |
|
£10,001 – £50,000 |
£2.5% value of the claim) |
£TBC |
£2.5% plus VAT |
|
£50,001 – £100,000 |
£2.5% value of the claim |
£TBC |
£2.5% plus VAT |
|
* Basis of charging = fixed fee |
|||
Court Action – issuing a claim
|
Debt value |
Court fee |
Our fee |
VAT (charged at 20%) |
Total |
|
Up to £5,000 |
£205.00 |
£115.00 |
£23.00 |
£138.00 |
|
£5,001 – £10,000 |
£455.00 |
£125.00 |
£25.00 |
£150.00 |
|
£10,001 – £50,000 |
£2.5% value of claim |
£150.00 |
£30.00 |
£180.00 |
|
£50,001 – £199,000 |
£2.5% value of claim |
£150.00 |
£30.00 |
£180.00 |
|
£200,000 + |
£10,000.00 |
£200.00 |
£40.00 |
£240.00 |
Court Action – Enforcement
|
Enforcement Method |
Debt Amount |
Court Fee |
Our Fee |
VAT (charged at 20%) |
Total |
|
High Court Enforcement |
Over |
£71.00 |
£117.75 |
£23.55 |
£141.30 |
|
Third Party Debt Order |
Any |
£119.00 |
£150.00 |
£30.00 |
£180.00 |
|
Attachment of Earnings |
Any |
£119.00 |
£90.00 |
£18.00 |
£108.00 |
|
Charging Order |
Any |
£119.00 |
£175.00 |
£35.00 |
£210.00 |
|
Order to attend Court for |
Any |
£59.00 |
£225.00 |
£45.00 |
£270.00 |
Fees payable to third parties (‘disbursements’)
|
Disbursement |
Fee (£) |
Court Fee (£) |
VAT £ (charged at 20%) |
Total (£) |
|
Trace |
50.00 |
N/A |
10.00 |
60.00 |
|
Trace and asset search |
275.00 |
N/A |
55.00 |
330.00 |
|
Process serving (non-urgent) |
85.00 |
N/A |
17.00 |
102.00 |
|
Sworn Affidavit |
15.00 |
N/A |
3.00 |
18.00 |
|
HM Land registration fee |
20.00 |
N/A |
4.00 |
24.00 |
|
HM Office copies fee |
6.00 |
N/A |
1.20 |
7.20 |
* Debts over £600
Services excluded
Services will not include:
· Disputed or defended proceedings. Such matters will be subject to an hourly rate of £300 plus VAT per hour (£360).
· Barrister’s fees – if needed, to be advised/agreed prior to instruction.
Work included and key stages
The precise work and stages involved in debt recovery matters vary according to the circumstances. However, we have set out the key stages involved in a typical claim:
·Taking your instructions and reviewing documentation.
·Undertaking appropriate searches.
·Sending a letter before action.
·Receiving payment and sending on to you, or if the debt is not paid, drafting and issuing a claim.
·Where no Acknowledgement of Service or Defence is received, applying to the court to enter Judgement in default.
·When the judgement in default is received, write to the other side to request payment.
·If the payment is not received, providing you with advice on the next steps and the likely costs.
Approximate/average timescales
Debt recovery matters usually take 6 months 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.
Factors that could increase costs
In some circumstances we may increase our fees to account for additional time, work or skill required to meet your instructions. Examples include:
·If the value of the compensation and interest take the debt in to a higher banding attracting a higher fee.
·If enforcement action is needed such as a bailiff to collect your debt.
·If an Enforcement Hearing is required it might be necessary to instruct a barrister.
Qualifications and experience of our team
Debt recovery matters will be dealt with Rachael Braide, Director (hourly rate £300 plus VAT) assisted by litigation executives (hourly rate £150 plus VAT).