Debt Recovery

Fee Structure:

These matters certainly require the provision of our services at hourly rates, due to the extensive work that is required, when disputed.

However, should the claim not be disputed, or a one-off letter is required, then it may be possible that a fixed fee can be agreed, this would vary on the circumstances of the case and we would need to discuss further with you.

Our hourly rates are as provided below: -

Experience/ Position

Hourly rate (excluding VAT)

Partners and Consultants

£450 + VAT

Solicitors (+ 8 years PQE)

£350 + VAT

Solicitors (- 8 years PQE)

£250 + VAT

All other fee earners including trainees

£150 + VAT

 

What our fee includes:

  • Discussing your circumstances, taking your instructions, reviewing documentation and confirming whether this is the most appropriate action for you to make and what other options may be available to you;
  • Undertaking appropriate searches
  • Sending a letter before action
  • Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing a claim
  • Where no Acknowledgment 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 an appropriate time scale, normally 14 days, providing you with advice on next steps and likely costs
  • If the matter is defended, then we will prepare the matter for trial
  • At all times we will consider ADR, Alternative Dispute Resolution, ie whether we can mediate with the defendant to reach settlement

Disbursements:

Disbursements are costs related to your matter that are payable to third parties, such as court fees.

We handle the payment of the disbursements on your behalf to ensure a smoother process.

There may be disbursements that arise as a consequence of your claim, this could include expert’s fees (who may charge VAT), travel, postage and photocopying charges. These charges depend on the frequency and nature of the disbursement and your case, so we can discuss this with you, if and should it arise.

Your solicitor’s fees and the Court fees in some circumstances may be reclaimed from the Debtor (ie the person you say owes you money), but please 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 debt banding, with higher court fees being due

• The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.

 

Estimate Timescales:

We are unable to guarantee how long the court will take to process any claim that you make.

Matters usually take 4-8 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 the matter is defended, then to get to trial could take 6 – 18 months, depending on the Court listing, of whom we have no control over.

Please note the anticipated timescale and fees are an estimate based on the facts above. All applications are likely to vary and of course, we can provide you with a more accurate estimate once we have more information on your specific circumstances.

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