Debt Recovery Pricing

DEBT RECOVERY

How much will my debt recovery cost?

There is a set-up fee for all matters of £75 + VAT (at 20%).

If we recover all or part of the amount outstanding, the following charges are applied:

On the first £1,000 claimed         10%                On the next £500 claimed       5%              Thereafter        1%

How long should my debt recovery take?

This is determined by many factors including whether the claim is defended.  However, an acknowledged and undefended, straightforward claim should complete within 12 weeks.

What do we do?

For our up front fee we will:

  • meet with you to discuss the matter
  • gather all necessary documents and information from you
  • write a Letter of Claim to the Debtor in accordance with the Pre-Action Protocol for Debt claims
  • where the Debtor indicates they require time to pay, we will seek your instructions and negotiate with the Debtor to reach an agreement on your behalf in accordance with your instructions
  • administer any repayments made to us on your behalf
  • administer any instalment payments agreed (payments of less than £100 per month will incur a £30pm admin charge)

Are there any additional charges?

There may be additional charges, as not everything is usual or straightforward.   If additional work is required, and it will incur further costs, we will discuss with you why it is necessary and what options may be open to you before agreeing a fee for that work or carrying out the additional work.

The most common extra charges are for:

  • Issue of Proceedings/Claim Form                                                                        £120 + VAT at 20%
  • Request for Judgment                                                                                          £  60 + VAT at 20%
  • Warrant  of Execution                                                                                           £120 + VAT at 20%
  • Transfer to High Court and Writ of Control                                                           £120 + VAT at 20%
  • Application for an Order that the Debtor attend Court for questioning                 £120 + VAT at 20%
  • Attachment of Earnings                                                                                        £120 + VAT at 20%
  • Third Party Debt Order                                                                                         £240 + VAT at 20%
  • Bankruptcy Petition or Winding up Order                                                             By arrangement

If a case is defended, and you wish us to proceed, charges are then levied at our normal hourly rates, currently £125 (+ VAT at 20%) per hour for a Legal Assistant and £220 (+ VAT at 20%) per hour for a Senior Solicitor. 

All charges, as set out above, are payable in addition to any sums which we may recover from the Debtor for fixed costs. 

Who will do my work?

Your work will be carried out by one of our team. Usually the person who provides you with your personalised quote.

They will be your main point of contact and are there for you throughout the transaction.

Our legal advisors include qualified Solicitors and a Debt Recovery Legal Assistant with years of on the job experience. Our website will tell you more about our individual legal advisors.