Debt Recovery
Debt Recovery
Are you owed money which is having a detrimental effect on your cash flow?
Non payment of bills/invoices can be detrimental to your business, reputation and staff.
If you are struggling to secure payments from debtors then do not hesitate to contact us and we will assist you in discussing the best way to address these issues, through the courts if necessary.
Please call and take advantage of our free 30 minute consultation. Saturday and evening appointments also available by appointment.
Our pricing - Debt Recovery (for businesses)
TelephoneThese costs apply where your claim is in relation to an unpaid invoice up to £100,000 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. Our fee is based on a percentage of the debt recovered.
Fees based on percentage of debt recovered
Debt Value Our fee (inclusive of VAT) will vary based on 20% of debt recovered
Up to £5,000 £0 - £1,200
£5,000 - £10,000 £1,200 - £2,400
£10,000 - £100,000 £2,400 - £24,000
Example Debt recovered £5,000
Less: Our fee (20% of £5,000) = £1,000
VAT on our fee £ 200 -£1,200
Payment due to you £3,800
Anyone wishing to proceed with a claim should note that:
• Our percentage fee as above, including VAT, will be deducted from monies received on your behalf and 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.
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 Judgment in default
• When Judgment in default is received, writing to the other side to request payment
• If payment is not received within 28 days, providing you with advice on next steps and likely costs
Our fee does not
include:
• Court fees payable if proceedings are issued in the county court (see table of court fees below)
Court fees payable where proceedings are issued in the county court:
Debt Value Court fee (varies according to the amount of the claim)
Up to £5,000 £35 - £205
£5,001 - £10,000 £455
£10,001 - £200,000 5% of the value of the claim
Timescales
Matter usually take between 6 – 12 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 Judgment in default. If enforcement action is needed, the matter will take longer to resolve.
For a quote specific to your personal needs please telephone our office or complete the online consultation form.
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