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Our Fees Published for Commercial Debt Recovery

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Pre-Proceedings Collection

We will request the full file of papers in your possession and carry out a full review and risk assessment of the matter which will determine the likelihood of recovering your monies owed to you. This will then allow us to decide on what retainer we can act under from the following;

  • Deduction only - 'No win, no fee'
  • Staged Fixed Fee + 10% + VAT* deduction
  • Hourly rate.

We will then send a Letter Before Action to the Debtor demanding payment of the outstanding debt within 14 days. The letter is sent free of charge. There is only a charge for this work on a staged fixed fee or hourly rate retainer.

If the payment is made within 14 days and the debt is settled, then we will either

  1. deduct 15% + VAT* from the total amount recovered or
  2. deduct the interest, compensation and recovery costs from the amount recovered

whichever is the higher amount.  

The fee for sending the letter under a staged fixed fee/hourly rate will be £100.00 + VAT.

*The current rate of VAT is charged at 20%.

 

Issue of County Court Proceedings

Should the Debtor not respond then we will look to issue County Court Proceedings (subject to a pre-issue risk assessment) and will draft the Claim Form & Particulars of Claim.

If we are acting under a deduction-only retainer, we will endeavour to continue doing so. However, should the prospects of success change upon completion of our pre-issue risk assessment then the following fixed-fee amounts apply for this work depending on the size of the debt and what Court track it falls into.

 

Small Track Debts Fixed Fee (Up to £10,000.00)

Stage

Up to £4999.00

From £5000.00 - £9999.00

Claim Form & Particulars

£200.00

£300.00

Reply to Defence (If needed)

£150.00

£150.00

Defence to Counter-claim

£150.00

£150.00

DQ and Directions

£75.00

£75.00

Witness Evidence (per statement)

£150.00

£150.00

Disclosure

£150.00

£150.00

Trial Bundle

£300.00

£300.00

 

 

 

Deduction from overall amount of debt recovered

10%

10%

Court Issue Fee

 

£25.00 - £205.00

£455.00

*please note the above amounts and % deductions exclude VAT

 

Fast-track claims £10,000 - £25,000

We will seek to recover our standard costs from the losing party upon successful conclusion of a case. Depending on the retainer entered into we may require a payment on account to start the matter and may raise interim bills throughout the life of the case. Any monies paid on account for legal costs will be offset from the paying party upon successful conclusion of a case.

 

Multi-track debts £25,000 +

We will seek to recover their standard costs from the losing party upon successful conclusion of a case. However, there will be an hourly rate charge for this work and interim bill(s) will be raised at certain points throughout the life of the case. Any monies paid on account for legal costs will be offset from the paying party upon successful conclusion of a case.

 

Disbursements

All disbursements are to be funded by the client and we will seek recovery of the same upon successful conclusion of the case. All disbursements paid for in advance and recovered will be paid back to you. These will be for court fees, Barristers’ fees etc.

 

Counterclaims

All counterclaims across fast and multi-track will be billed at an hourly rate. We will seek to request the Court to move all small track matters were counterclaims have been raised to the fast track due to complexity.

 

Set-aside Applications

All set aside applications carry a fee of £500.00 + VAT plus the £255.00 court fee and another related disbursement(s).

 

Read more: Our Fees Published for Commercial Debt Recovery

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GDPR compliance

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