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Debt Recovery Business to Business debt

Type of Service: Debt Recovery Business to Business debt that is undisputed

 

Type of fee: Agreed/Fixed Fee/Hourly Rate

 

(Varies on complexity of the case)

 

Costs:

 


Debt Value

Court Fee

Our Fee (excl. VAT)*

 

Up to £5,000

https://www.gov.uk/government/publications/fees-in-the-civil-and-family-courts-main-fees-ex50

 

£1,500.00

 

£5,000 - £10,000

https://www.gov.uk/government/publications/fees-in-the-civil-and-family-courts-main-fees-ex50

 

£1,500.00

 

£10,000 - £25,000

https://www.gov.uk/government/publications/fees-in-the-civil-and-family-courts-main-fees-ex50

 

£2,500.00

 

£25,000 - £50,000

https://www.gov.uk/government/publications/fees-in-the-civil-and-family-courts-main-fees-ex50

 

£3000.00

 

£50,000 - £100,000

https://www.gov.uk/government/publications/fees-in-the-civil-and-family-courts-main-fees-ex50

TBA on the claim - estimate costs on complexity

 

Who will carry out the work?

 

  • Director assisted by solicitor
  • Solicitor/Director assisted by a paralegal

 

All work supervised by a Director, who retains ultimate responsibility and conduct of matters

 

Hourly Rates:

 

  • Director - £240 - £300 plus VAT
  • Solicitor - £160 - £185 plus VAT
  • Trainee Solicitor - £120 plus VAT
  • Paralegal- £80-£100 plus VAT

 

On average, this type of work entails from 5 to 10 hours of work dependant on level of communication required.

 

The exact number of hours it will take depends on the circumstances in your case. Factors that may affect the hours can be:

 

  • The amount of supporting evidence that we need to consider
  • Lack of cooperate from the opponent
  • Number of Parties
  • Historical background
  • Jurisdictions of parties (should a defendant live outside the jurisdiction we would have to revisit costs estimates dependant on the country in question).
  • Complications relating to service
  • Investigations on the defendants and address of the defendant
  • Unforeseen complexities that may arise
  • Language barriers or translations

 

*please note that these costs ONLY relate to undisputed claims where the Defendant/s have failed to respond to the pre action letter and/or the claim.

 

What services are included in this?

 

  • Initial attendance and consideration of the options and assessing most appropriate way forward based on client’s circumstances
  • Reviewing documentation advising on the same
  • Undertaking appropriate searches
  • Sending a letter before action
  • Receiving payment and sending onto you, or
  • if the debt remains unpaid, drafting and issuing a 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 28 days, providing you with advice on next steps and likely costs

 

The costs quoted here do not include:

 

  • Court Fees such as Issue Fees. Find updated list of Court fees. This will be reflected on the value of the claim [see link ];
  • Disbursements such as not limited to Barrister’s fees, expert’s fees, search fees, translation costs etc if they become necessary;
  • Enforcement action to collect debt or enforce a judgment;
  • Defence filed by the opponent [see disputed claims]
  • Appeals
  • Interest and compensation may take the debt into a higher banding, with a higher cost.
  • Complexities with issuing the claim in England, jurisdiction issues
  • Complex background or history to the claim, which may involve considerable number of hours to investigate

 

We will let you know at the earliest opportunity and before any such fees are incurred by yourself, if any of these are applicable.

 

Time scale (on average):

 

  • Small Track Claim – 6-12 Months from initial instructions
  • Fast Track Claim - 12-18 Months from initial instructions
  • Multi Track Claim – 12-24 Months from initial instructions

 

Please note the anticipated number of hours, fees and timescales are an estimate based on the facts above. All services are likely to vary and of course, we can give you a more accurate estimate once we have more information about your specific case.

 


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