Debt Recovery Pricing & Timescales

Understanding Our Debt Recovery Pricing Structure

Pricing

We charge for this type of work on an hourly basis. This is because all our clients are different and some require us to provide advice at a single meeting or on the telephone, and they may only need preliminary advice. The hourly rates of our team who may be working on your file are:-

Partners	£285.00 plus VAT £57.00 (Total £342.00)
Solicitors	£278.00 plus VAT £55.60 (Total £333.60)
Legal Executives	£233.00 plus VAT £46.60 (Total £279.60)
Administration Assistants/Paralegals	£134.00 plus VAT £26.80 (Total £160.80)

If money is recovered before court proceedings are started, the debtor will have to pay nothing towards your legal costs.

“Small claims” are those of less than £10,000. If Court proceedings are issued in a small claim extremely limited costs are recoverable from the debtor – limited to the court fee paid and some very limited fixed costs. Any costs received from the debtor will be retained by us.

In claims where more than £10,000 is recovered the debtor will be ordered to pay some costs but again they will be limited and will be retained by us.

In all cases, if court fees are recovered from the debtor we will refund them to you.

There is a scale of fees charged by the court on the issue of proceedings. These range from between £35 for a debt up to £300, through to £455 for debt up to £10,000 and 5% of the amount claimed for a debt in excess of £10,000. There is no VAT on court fees.

The VAT element of our fee cannot be reclaimed from your debtor for a business to business debt.

Interest and compensation may take the debt into a higher bending for the court fee.

Timescale

It usually takes between 3 weeks and 6 weeks from receipt of instructions from you to receipt of payment from the other side after we have sent a letter before action. For debts owed by individuals to businesses, the Debt Recovery Protocol provides the other side with 30 days in which to respond to the letter of claim. Some debtors will take the full amount of time to respond. This assumes the debt is not disputed.

If it becomes necessary to issue a claim form to recover your debt the matter will usually take between 8 and 12 weeks to resolve on the basis that the other side pays promptly on receipt of the judgement in default. It will take longer if there are any delays with the Court. If enforcement action is needed the matter will take longer to resolve.