We usually apply fixed fees for debt recovery claims based on the value of the debt to recover.
These costs apply where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed. If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary, which could be on a fixed fee (eg, if a one-off letter is required), or an hourly rate if more extensive work is needed.
Our fee (exl. VAT)
|£0 – £10,000||7 – 10% of value of the claim|
|£10,001 – £50,000||5 – 8% of value of the claim|
|£50,000 – £100,000||4 – 8% of value of the claim|
Anyone wishing to proceed with a claim should note that the costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.
Our fee includes:
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a letter before action
- Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing claim
- Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgment in default
- When Judgment in default in received, write to the other side to request payment
- If payment is not received within 10 days, providing you with advice on next steps and likely costs
Matters usually take 2-6 weeks from receipt of instructions from you to receipt of payment from the other side, depending on whether or not it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of Judgment in default. If enforcement action is needed, the matter will take longer to resolve.