Debt Recovery Prices
If you run a business then it is likely that at some point you are going to have to chase an unpaid invoice or two. When that doesn't work then our debt recovery team are on hand to help.
To make things as transparent as possible we have broken down the process and our fees at each stage but before we can help you need to be sure that your claim:
- Is a business debt
- Relates to an unpaid invoice
- Is undisputed as far as you are aware
If it is a tick against these three then our prices will be as listed below. If there is another way that we can help, e.g by pursuing a personal debt, we would be happy to discuss that with you.
Please note that, in addition to our fees, there will be fees payable to the Court for issuing proceedings or applying for enforcement if matters go that far. The fees depend on the value of the claim you are making and can range from £25 to £450 for an online claim or several thousand pounds for high value claims issued in the Court.
The majority of the disbursements will be court fees.
Before Court - £250 + vat
- Review of your papers, eg invoice and contract
- Undertake relevant searches against debtor to establish if risk of insolvency
- Undertake Land Registry search against debtor’s property where address known
- Send letter before action to debtor
- Report to you as regards issues arising and advise you if issuing a Statutory Demand would be appropriate (this is outside of the fees quoted here)
- Either make payment to you on receipt or, if debt remains unpaid, request whether you wish to proceed to Stage 2
Court proceedings £350 + vat
- Draft and issue your claim
- Where no Acknowledgment of Service and/or Defence apply to the court to enter judgment in default and report to you
- Report to you when Judgment received
- Upon receipt of judgment write to the judgment debtor for payment
- If the judgment debt remains unpaid after 14 days you may wish to proceed to Stage 3 and we will provide you with initial advice on which method of enforcement may be the most appropriate, or if it is not cost effective to pursue.
Fees vary depending on enforcement method
- Instruct a High Court Enforcement Officer or a County Court Bailiff - £150 + vat
- Obtain a Charging Order - £400 + vat
- Attachment of Earnings Order - £200 + vat
- Third Party Debt Order - £400 - vat
- Order to Obtain Information from Judgment Debtor - £350 + vat
There may be some disbursements and fees to third parties for example, search fees, court fees, process server fees, agent’s fees to attend court that will need to be taken into account.
If the matter becomes defended at any stage, the case is adjourned or there are negotiations then you will be charged at the hourly rate for the most appropriate legal advisor. It is obviously difficult to give an indication of our fees for these eventualities.
It is important that we point out the following to you before you go any further:
- You should already have asked for your debt to be paid before instructing us
- You cannot recover all of your solicitors costs from your debtor therefore it may not be a cost effective scheme for you
- We cannot guarantee payment of your debt even if you obtain a judgment in your favour
- We will always consider if interest can be claimed and add to this to your claim
- We can secure lower court fees than if you issued proceedings by post as we are registered with Money Claims Online
Who would deal with my claim?
Your matter will be dealt with by any one of our team of solicitors who include Paul Rooke, Beth Garrod and Marika Monaghan whose normal hourly rates are £210, £210 and £280 respectively plus VAT. Our team is ably assisted by a trainee solicitor whose hourly rate is £150 + VAT and supervised by Helen Bell, a partner, whose hourly rate is £280+ VAT.
If you would like to discuss your particular needs then please call our Debt Recovery Team on 0800 84 94 101 (it’s free) or use the contact form.