Debt Recovery Pricing

Debt Recovery Pricing

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.

For undisputed debts, 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 instruct a bailiff or a High Court Enforcement Team), we will discuss the change in fees with you and agree a way forward.

When 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

Our Fee (incl. VAT)

Up to £10,000

650 plus VAT

£10,000 - £25,000

£1500 plus VAT

£25,001- £100,000

£3000 plus VAT

In addition to our fees there will also be a Court fee which is dependent on the value of the debt being claimed. At the initial meeting we will advise you of the likely level of the Court fee but please consult the Court Guide located at Page 5 of form EX50 and can be found here https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/728133/ex50-eng.pdf

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 or High Court Enforcement Team

Time Scales

A typical debt recovery may take many 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 pay promptly on receipt of any Judgment issued by a court. The timescales are often driven by the Court system itself and we would advise you of the likely timescales when you initially instruct us. As detailed above, if enforcement action is required, we will discuss the fees and timescales involved at that stage.

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 documentation
  • Undertaking appropriate searches
  • 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