DEBT RECOVERY FEES

OUR FEES

The costs of debt recovery can vary depending on the circumstance. If the debt is not disputed then it is likely to be a lot less expensive than should you need enforcement action.

Our debt recovery solicitors are specialists that can help you whatever the circumstance. Although we have set fees, there are more complex cases that are disputed that require more time not included in our fixed fee prices. This is outlined to you at the time of instruction or if additional information becomes apparent during the case.

Our costs apply to unpaid invoices which are no disputed and no enforcement action is required.

Prior to establishing action, we offer fixed fees for pre-action.

Pre-Action
Letter before Action	£100+VAT (this may be less depending on complexity of the letter)
Reviewing response and second letter	£150+VAT
Preparing final demand letter	£200+VAT
Pre-action advice	£250+VAT

If court action is required then our fees are as follows:

Debt	Court Fee	Our Fee
Up to £5,000	Up to £205	£1,000 plus VAT
£5,001 to £10,000	£455	£1,500 plus VAT
£10,001 to £50,000	5% of the claim	£2,000 plus VAT

There are additional hourly rates available for enforcement proceedings. There is a £66 Court Fee and £90 HCEO fee (if warrant is unsuccessful).

All our fees are plus VAT.

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 IS INCLUDED IN THE FEES?

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 Judgement in default
When Judgement in default in 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

TIME SCALES

Unfortunately, there are no set timescales, as every recovery is different. We expect a letter demanding payment to be responded to within 7 days if a company and 30 days if an individual. If enforcement action is required then it can take significantly longer.

WHAT IS VAT AND WHEN IS IT DUE?

VAT is chargeable if it meets the following criteria, it must:

be a supply of goods or services
be a taxable
take place in the UK
be sold by a VAT registered person, and
be made through business activity.

VAT is applicable at the standard rate, 20%, on our services should the criteria be met. If VAT is due on any disbursements we will inform you prior to agreeing the fee.

0207 242 1666

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DEBT RECOVERY FEES

OUR FEES

WHAT IS INCLUDED IN THE FEES?

TIME SCALES

WHAT IS VAT AND WHEN IS IT DUE?

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