Thank you for looking at our Debt Recovery services. Debts can arise in all walks of life and we regularly advise and assist businesses and individuals alike.
The bulk of our debt recovery instructions come from businesses across various sectors. With many years of experience and strong expertise in litigation both in and out of court, our debt recovery service is fast, efficient and economical.
Why Us
We have an experienced team who can assist you with recovering both disputed and undisputed debts. This page covers our pricing for undisputed debt recovery – please get in touch to find out more about our fee structure for pursuing disputed debts. We pride ourselves on exceptional customer care skills enabling you to send out the right message and retain the goodwill of your customers whilst recovering outstanding payments.
We can offer you clear, practical advice and will discuss all the options available to establish the most appropriate way of dealing with debtors. We have tried and tested processes in place to ensure we can recover undisputed debts quickly, efficiently and cost-effectively, with transparent fixed fees.
Pricing
We appreciate that the fees involved in debt recovery are important to you. We review our fees on a regular basis, considering client’s feedback, to ensure we continue to offer a cost-effective debt recovery service.
We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. These costs apply for unpaid and undisputed payment of invoice(s). If during the debt recovery process, the matter becomes disputed or enforcement action is required (where you need to appoint a bailiff), we will discuss the change in fees with you and agree on a way forward.
When it is possible claiming costs from the debtor, it is important to note that the VAT element of any fees cannot be claimed. You can claim interest and compensation and we will advise you of the applicable rates.
Debt Value | Court Fee | Our Fee (escl. VAT @ 20%) | Total Fee |
|---|---|---|---|
Up to £5,000 | Up to £205 | £1,380 | £1,585 |
£5,001 - £10,000 | £455 | £2,000 | £2,455 |
£10,001 - £50,000 | 5% value of claim | £3,500 | £TBC |
£50,001 - £100,000 | 5% value of claim | £4,200
| £TBC |
For claims which value is above £100,000 but not exceeding £200,000, the court fee is 5% of the value of the claim and our fee is 5% (excl. VAT) of the value of the claim.
For claims which value if above £200,000 the court fee is £10,000 and our fee is 5% (excl. VAT at 20%) of the value of the claim.
Exclusions
Our fees are fixed and include items detailed above. However, there may be factors which would typically increase the cost of the fees. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.
Factors that may lead to an increase in cost include:
- Enforcement proceedings
- Instructing a Bailiff
Time Scales
A typical debt recovery will take between 4-12 weeks, from instruction through to payment from the other side. This may be quicker or longer depending on whether we are required to issue a claim and whether the other side pays promptly on receipt of any Judgment issued by a court. As detailed above, if enforcement action is required, we will discuss the fees and timescales involved.
Key Milestones
With every transaction, there are key milestones, which may vary according to individual circumstances. Our fee will include these milestones and may be as follows:
- Taking your instructions and reviewing the documentation;
- Undertaking appropriate searches (due diligience);
- Issuing a letter before action requesting payment from the debtor;
- Receiving payment and sending this on to you;
- Drafting and issuing a claim form to the relevant court if the debt is not paid;
- Applying to the court to enter a Judgment in Default if the debtor fails to respond to court proceedings;
- Contacting the other side to request payment where a Judgment in Default has been issued by the court.
