Debt Recovery Fee Schedule
Debt Recovery Fee Schedule
Range of Costs
Range of fixed fees for a business-to-business debt that is undisputed.
No two debt collection claims are the same. As such, we cannot provide a reliable estimate of the cost until we have full details. What we have set out below is our typical charges where your claim is in relation to an unpaid invoice which is not disputed, and enforcement action is not required.
If, however, 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 (e.g., if a one-off letter is required), or an hourly rate if more extensive work is needed.
Our hourly charge-out rates are set out below.
Claimants should be aware that:
i) for claims less than £10,000, our fees are not usually reclaimed from your debtor;
ii) interest and compensation may take the debt into a higher banding, with a higher cost;
iii) the costs quoted above are not for matters where enforcement action, such as bailiffs, is needed to collect your debt;
iv) the fee does not include disbursements, which must be paid in addition. Typical disbursements include Court fee, process server (where necessary), and photocopying.
Our fee includes:
i) taking your instructions and reviewing documentation;
ii) undertaking appropriate searches;
iii) sending a letter before action;
iv) receiving payment and sending onto you, or if the debt is not paid, drafting and issuing claim;
v) where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgment in default;
vi) when Judgment in default is granted, writing to the other side to request payment;
vii) if payment is not received within 14 days, providing you with advice on next steps and likely costs.
How long will my matter take?
Matters usually take between 2 and 10 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. Another factor is how long the Court takes to process the paperwork at any stage. 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.
Our hourly rates
Partners £350 per hour plus VAT
Solicitors & Consultants £300 per hour plus VAT
Associates & Consultants £250 per hour plus VAT
Paralegals £150 per hour plus VAT
Each matter will have a supervising partner although a junior member of staff may well have the day to day conduct of the matter. Central to every relationship that we build is a firm commitment to our clients’ success.
....ON YOUR SIDE