Fixed fee offered
We can act for you to recover a debt that you are owed over £10,000. For debts under £10,000 we would not advise you to incur legal costs as these are not likely to be recovered and therefore it may be uneconomic for you to incur legal costs in the recovery. We can provide advice on the process at an agreed hourly rate.
We will provide the initial advice, initial letters, issue proceedings and the collection of debt for a fixed fee depending on the size of the debt and if the matter finishes at this stage our fees will be limited to the fixed fee, as long as no exceptions apply.
These costs apply where your claim is in relation to an unpaid invoice which is ultimately not disputed and, please note that our fees do not cover enforcement action.
We are happy to provide a quote for this additional work should it be necessary. All additional work will be carried out an agreed hourly rate.
Our fixed fees are as follows:
|Value of the debt||Our fee||Court fee|
|£10,000 – £39,999||10% of the principal amount of the debt||5% value of the claim|
|£40,000-£70,000||7% of the principal of the debt||5% value of the claim|
|£70,000-£100,000||5% of the principal of the debt||5% value of the claim|
|Over £100,000||We will provide an estimate of our costs at an hourly rate||5% of the value of a claim up to a maximum of £10,000|
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fee cannot be reclaimed from your debtor (this only applies to VAT registered businesses).
- 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.
- For the avoidance of doubt a fixed fee can only be offered where a debt is not disputed and enforcement is not required.
- Our fee does not include any other disbursement and due to the nature of any disbursements that might be required it is not possible to list those.
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 Acknowledgment of Service or Defence is received, applying to the court to enter Judgement in default
- When Judgement in default in received, write to the other side to request payment
- If payment is not received within 30 days, providing you with advice on next steps and likely costs
Matters which can be completed under a fixed fee usually take 8 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 Judgement in default. If the debt is disputed or enforcement action is needed, the matter will take longer to resolve and it is difficult to give meaningful estimate of the time it will take as this will depend on the circumstances of your individual matter.