Debt Recovery Fees
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 (inc VAT)||Total|
|Up to 5,000||£205.00||£312.00||£517.00|
|£5,001 to £10,000||£455.00||£444.00||£899.00|
|£10,001 to £200,000||5% value of the claim||£624.00||£624.00 plus 5% of the claim|
Our fee assumes that:
a. This is a standard transaction and that no unforeseen matters arise
b. The transaction is concluded in a timely manner and no unforeseen complication arise
c. All parties to the transaction are co-operative and there is no unreasonable delay from third parties providing documentation
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.
What Do You Get?
As part of our fee we will:
- Take your instructions and review documentation
- Undertake appropriate searches
- Send a letter before action
- Receive payment and send onto you, or if the debt is not paid, draft and issue a claim
- Where no Acknowledgment of Service or Defence is received, apply to the court to enter Judgement in default
- When Judgement in default is received, write to the other side to request payment
- If payment is not received within 30 days, provide you with advice on the next steps and likely costs
Matters usually take 2 to 6 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.
Who Will Handle My Debt Recovery?
Anyone in our Litigation department could handle your debt recovery. To view the qualifications and experience of the team, please click here.
Akhil Choudhury will be the Director with overall supervision of your matter.
What If I Get A Problem?
Should you have a problem that cannot be resolved between you and the person handling your purchase, please refer to our Complaints Procedure.