Fees for Debt Recovery matter
Applying for the grant, collecting and distributing the assets (Hourly rate)
These costs apply where your claim is in relation to a single 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 (e.g. if a one off letter is required), or an hourly rate if more extensive work is needed.
For debt values of up to £50,000.00 – our fee for the work outlined below is estimated from between £2000 to £3000 + VAT and disbursements. For debt values of over £50,00.00 – our fee for the work outlined below is estimated from between £10% to 12%+ VAT and disbursements.
Court fees will be payable dependent on the value of the claim. Please go to the following link to ascertain the current court fees applicable: https://www.gov.uk/court-fees-what-they-are
Anyone wishing to proceed with a claim should note that:
The VAT element of our fee cannot be reclaimed from your debtor if you are already registered for VAT.
Interest and compensation may take the debt into a higher banding, with a higher cost.
The costs quoted above are not for matters where enforcement action, such as bailiffs, 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 on to 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 is received, writing to the other side to request payment
If payment is not received within 14 days, providing you with advice on the next steps and likely costs
Matters usually take 1 to 12 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
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NO WIN No FEEs BASIS (Terms Apply- Court fees and all disbursements must be paid by clients)
All prices subject to full terms and conditions.
If you would like more information about our fixed fee family law services contact our specialist team on 020 7780 9394 or get in touch with us through our online enquiry form. Court Fees to be confirmed at the time of application as Court fees may be changed.