We do not provide Debt Recovery work on a fixed fee basis. Instead we agree a budget with you ( the client) prior to taking any steps. Our hourly charge for Debt Recovery work is £150 (excluding VAT.)
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fee cannot be reclaimed from your debtor.
- 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 (you will be required to pay the appropriate disbursement fee payable separately which we will advice you of at the time.)
- 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 fourteen days, providing you with advice on next steps and likely costs
Matters usually take three months 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.