Debt Recovery

We all know that cash is king. Cashflow problems can swiftly bring even the most successful and profitable business to a premature end.

We offer a fixed fee debt recovery process for undisputed debts and can advise your business on the prospects of recovering outstanding or disputed debts.

If your business requires support with volume debt recovery then we would be happy to meet with you to discuss ways of designing a cost effective system to improve your debt recovery.

Contact us today for a no obligation chat to see how we may be able to help your business.

You can also make an enquiry

 

Costs for an undisputed debt

These costs apply where your claim is in relation to an 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.

Debt value

Court fee

Our fee (incl. VAT)

Total

Up to £5,000

£205 (£185 if online). This fee is less for lower value claims.

£450 (£540 incl VAT)

£745 or £725 if online.

£5,001 - £10,000

£455 (£410 if online).

£600 (£720 incl VAT)

£1,175 or £1,130 if online.

£10,001 - £50,000

5% of the value of the claim (4.5% if online)

£675 (£810 incl VAT)

£810 + the Court fee

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 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 21 days, providing you with advice on next steps and likely costs

Matters usually take 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 enforcement action is needed, the matter will take longer to resolve.