Debt Recovery Prices
We offer clear pricing to enable you to take action on unpaid invoices combined with realistic advice on the chances of recovering the debt.
Debt Recovery Advice
In many instances it is easier and most cost-efficient to write-off small debts, or debts where you know there is minimal chance of successful payment. However, investigating why a customer has not paid can be a good starting point. This may involve resolving any dispute over the service or good supplied, or uncovering their cash flow problems.
Pursuing a debt in Court using a solicitor can be a cost-effective way of recovering debts.
The following pricing structure applies for undisputed unpaid business invoices:
Before Court - £450 + VAT
Review of your papers, e.g. invoice and contract.
Undertake relevant searches against debtor to establish if risk of insolvency.
Undertake Land Registry search against debtor’s property where address known.
Send letter before action to debtor.
Report to you as regards issues arising and advise you if issuing a Statutory Demand would be appropriate (this is outside of the fees quoted here).
Either make payment to you on receipt or, if debt remains unpaid, request whether you wish to proceed to Stage 2.
Court proceedings £650 + VAT
Draft and issue your claim.
Where no Acknowledgment of Service and/or Defence apply to the court to enter judgment in default and report to you.
Report to you when Judgment received.
Upon receipt of judgment write to the judgment debtor for payment.
If the judgment debt remains unpaid after 14 days you may wish to proceed to Stage 3 and we will provide you with initial advice on which method of enforcement may be the most appropriate, or if it is not cost effective to pursue.
Fees vary depending on enforcement method:
Instruct a High Court Enforcement Officer or a County Court Bailiff - £250 + vat
Obtain a Charging Order - £550 + vat
Attachment of Earnings Order - £350 + vat
Third Party Debt Order - £550 - vat
Order to Obtain Information from Judgment Debtor - £475 + vat
Please note that, in addition to our legal fees, there will be fees payable to the Court for issuing proceedings or applying for enforcement if matters go that far. The fees depend on the value of the claim you are making and can range from £25 to £450 for an online claim, or several thousand pounds for high value claims issued in the Court.
In addition, there may be some disbursements and fees to third parties for example, search fees, court fees, process server fees, agent’s fees to attend court that will need to be taken into account.
In the event of a defended claim
If the matter becomes defended at any stage, the case is adjourned, or there are negotiations then you will be charged at the hourly rate for the most appropriate legal advisor. If you find yourself in this situation, we can discuss the likely fees with you in advance of undertaking the work.
In the event that a matter is too complex our fixed fee structure we will provide you with an estimate of costs.
If the matter is for recovery of cross border debt or use of ADR structures such as Mediation or Arbitration then in these cases we will provide you with an estimate of costs.
Tips for debt recovery before you begin
It is important that we point out the following to you before you go any further:
You should already have asked for your debt to be paid before instructing us.
You cannot recover all of your solicitor’s costs from your debtor therefore it may not be a cost
effective option for you.
We cannot guarantee payment of your debt even if you obtain a judgment in your favour.
We will always consider if interest can be claimed and add to this to your claim.
We can secure lower court fees than if you issued proceedings by post as we are
registered with Money Claims Online.
To determine if would like to pursue a debt recovery case, you can schedule a free 15 minute
phone consultation with a debt recovery solicitor. Book online here.