Costs for Business Debt Recovery up to £100,000

Our costs are set out below for each stage of advice that we provide to our business clients when collecting debts on their behalf. These are for debts up to £100,000.

 

Pre Court Issue Charges

Letter Before Action (“LBA”) (“Solicitor’s Letter”) for Limited Companies/ PLCs and confirmation of your instructions: £12.50

Letter Before Action (“LBA”) (“Solicitor’s Letter”) for Individuals/ Sole Traders and confirmation of your instructions: £75.00

Each subsequent letter, e-mail or telephone call: £12.50

 

Court Costs

Once we begin Court Proceedings you are entitled to claim from the debtor not only your debt but also either contractual or statutory interest, the Court Fee you must pay on the issue of proceedings and the standard Fixed Costs. These items are all recovered on your behalf if the Claim is paid in full.

Our charges up to the stage of default Judgment are set out below.

Court Fees are payable at each stage of the proceedings and these are in addition to our costs. We reserve the right to ask for substantial amounts of Court Fees to be paid to us in advance of our incurring the Fees with the Court.

 

Standard Fixed Costs - from the issue of proceedings to Judgment (Assuming no defence filed).

Issue of Claim
Fixed Cost
Our Charges
Under £500
£50
£85
£500 - £1000
£70 £85
£1000 - £5000
£80
£125
Over £5000
£100
£125

 

Court Fees payable on issue

Claim Size
Court Fee
£0 - £300.00
£35
£300.01 - £500.00
£50
£501.01 - £1000.00
£70
£1000.01 - £1500.00
£80
£1500.01 - £3000.00
£115
£3000.01 - £5000.00
£205
£5000.01 - £10,000.00
£455
£10,000.01 - £200,000
5% of the value of the claim
Exceeds £200,000 or is not limited
£10,000

 

Our costs of entering judgment on your behalf are based on further standard Fixed Costs.


To £5000
Over £5000
By Default
£25 £35
By Admission & Acceptance
£45
£60
By Admission / Court
£60
£75

 

Charges After Judgement


Our Charges
Order for Questioning
£75
Warrant
£50
High Courth Enforcement Officer
£55
Attachment of Earnings
£100
Charging Order
£250
Third Party Debt
£250
Statutory Demand
£300 - £400 + Process server*
Personal Bankrupcy or Winding Down
£1000 + Process Server & Court Fees*

 

Except in the case of the HCEO the above charges include all related correspondence with you and the debtor unless alternative arrangements are agreed).

(*Court Fees, Statutory Deposits, Affidavit Fees and Statutory Advertisement costs are also payable in insolvency cases).

All our charges (but not standard Fixed Costs) are subject to VAT at the applicable rate in force.Defended Cases.

If and when the case becomes defended our charges become based upon an hourly rate which will be discussed with you should the need arise. Our hourly rates vary depending on the level of personnel needed to manage your case.  Our Paralegal rate is £125, Solicitor rate is £185 and Partner rate is £240.  All prices are exclusive of VAT.

 

Anyone wishing to proceed with a claim should note that:

  • the VAT element of our fee cannot be reclaimed from your debtor;
  • 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 the bailiff, 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 onto you, or if the debt is not paid, drafting and issuing claim;
  • where no Acknowledgement of Service or Defence is received, applying to the court to enter Judgement in default;
  • when Judgement in default is received, write to the other side to request payment;
  • if payment is not received within 7 days, providing you with advice on next steps and likely costs.

Matters usually take up to 8 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 Judgement in default. If enforcement action is needed, the matter will take longer to resolve.

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