Cash is the lifeblood of any business and writing off debt sets a bad precedent when chasing others as well as affecting your income. Our Debt Recovery Team has a high success rate in recovering outstanding monies and can support you throughout the process. Let our Debt Recovery Team take away the stress by dealing with your debt claims.
We send a fully compliant, robust legal letter for a fixed fee of £100.00 plus VAT for claims under £10,000.00. Where Court proceedings are necessary, we then charge fixed fees based on the value of the claim, as follows:
Value of claim
Up to £300
£300.01 – £500
£500.01 – £1,000
£1,000.01 – £1,500
£1,500.01 – £3,000
£3,000.01 – £5,000
£5,000.01 – £10,000
Costs Recoverable from debtor
These fees are based on undisputed claims. Where the matter is disputed, additional fees will become payable and will be quoted accordingly. In business-to-business claims, additional costs may be claimed from the debtor. Please note that the cost of the initial letter before action is payable in addition to the Court costs detailed in the table above. For debts above £10,000, please contact our Debt Recovery Team for a bespoke quote. Court fees are charged at 5% of the value of the claim.
The above fees include taking your instructions and reviewing documentation, sending a letter before action, receiving payment and sending on to you. Where proceedings are issued, the fees include drafting and issuing the claim, applying to the Court for Judgment in default where appropriate, requesting payment once Judgment is obtained and advising you on next steps if payment is not made.
Debt recovery matters usually take 1-12 weeks from receiving your instructions to receiving payment from the other side. This is dependent upon the other side making prompt payment of the debt due. However, should it be necessary to issue a claim then this timescale may be extended as the matter will be subject to the court’s directions.
Your representatives can be viewed here.
Please note that:
Any claim for interest and compensation may push the debt into a higher banding, which would therefore mean a higher court issue fee.
The costs quoted above does not include enforcement action where necessary to collect your debt.
VAT will be added to all costs at the standard rate. The VAT element of our fee cannot be reclaimed from the debtor.