Debt Recovery up to £100,000 Pricing
Our general charges are as follows:
| Debt Recovery | Our fee (excl. VAT) |
|---|---|
| Initial advice, assistance and Letter Before Action | £200 (plus VAT currently charged at 20%) |
| On-boarding for new clients | £30 (plus VAT) per client |
If the case is defended, then our charges will be based on our hourly rates between £175 to £330 (plus VAT) per hour.
Court Claims
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 – Disbursement | Our fee (excl. VAT) | Total |
|---|---|---|---|
| Up to £5,000 | £35 – £205 | £350 (plus VAT) | £325 – £505 |
| £5,001 – £10,000 | £455 | £450 (plus VAT) | £755 |
| £10,001 – £50,000 | 5% value of the claim | £700 (plus VAT) | £1,200 – £3,100 |
| £50,001 – £100,000 | 5% value of the claim | Charged at hourly rates based on time spent (plus VAT) | Our fees plus Court Fees £2,500.05 – £5,000 |
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
- When a claim has commenced, and your claim is successful against the other party, you can apply for Fixed Recoverable Costs (“FRC”) against the defendant
- 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 is 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 29th May 2024.
VAT is currently charged at 20%.