We assist small businesses collect unpaid invoices by providing professional representation and expertise on a personal level.
Our tailored service covers advice on the court process and the most effective course of recovery of your debt as well as advice on all methods of enforcement, including statutory demands, bankruptcy, winding up proceedings, enforcement officers, charging orders and attachment of earnings order
Pricing Information for Debt Recovery of undisputed debts up to £100,000.
We are required by the Solicitors Regulation Authority (SRA) to provide pricing information to potential clients in relation to claims for simple unpaid invoices (under £100,000) which are not disputed and where enforcement action is not needed.
Our fees for this type of work are charged on an hourly rate basis. Our dispute resolution expert Graham Checksfield will be pleased to assist you, and his current hourly rate is £205 + VAT per hour. Please see the link below to Graham’s bio. Graham will provide you with a detailed written estimate of costs (including our fees and any disbursements) in writing having discussed the matter with you, as well as confirming what work we will undertake for you, and an estimate of timescales.
Stage 1: Upon receipt from you of a copy of your outstanding invoice together with full contact details of the debtor, details of the debt owed and how it arose, we draft and send a Letter of Claim requesting payment within a specified period and warning of commencement of Court proceedings in the event of non-payment.
Stage 2: Often stage 1 prompts payment, But if payment is not received or a suitable repayment plan is not agreed, we will advise you of the options available to you and their associated costs.
Stage 3: If Court proceedings are commenced, we will apply for judgment if necessary and advise you about any necessary enforcement steps.
If the other party disputes your claim at any point or if enforcement action is required, we will discuss any further work required and provide you with revised advice about costs.
Undisputed debt recovery matters usually take 12-16 weeks from receipt of instructions to receipt of payment from the debtor, depending on whether or not it is necessary to issue a claim. If enforcement action is needed, the matter will take longer to resolve.
By way of example, our average fee for an undisputed debt recovery action where the debtor does not pay quickly (but no enforcement action is required) is £1,000 plus VAT.
Our fees cover all work carried out, including:
- Time spent in meetings with you and others.
- Preparing documents.
- Preparing advice.
- Reading and preparing any letters, emails and faxes.
- Telephone calls made and received.
- Any other activity necessary to progress your matter.
Sometimes we may increase the hourly rates outlined above. We will notify you in advance of any changes.
In addition, to issue Court proceedings, Court fees will be payable by you. These fees are based on a sliding scale, dependent upon the band into which the amount you are claiming falls (see www.gov.uk/make-court-claim-for-money/court-fees). By way of example fees to issue a claim in the Court for a debt of £5,000.01 to £10,000 is currently £455. If the claim exceeds £10,000, the Court fee are charged at 5% of the value of the claim.
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fees cannot be reclaimed from your debtor.
- Interest and compensation may take the debt into a higher banding, with a higher cost.