We understand that funding the cost of legal services can be expensive and is a cause of worry to our clients. We have a number of ways in which we try and assist our clients in meeting their legal fees. So that they can focus on their case and the worry of funding is reduced.
We Offer:
Please Contact us to speak to a member of our team to find out more about our funding options.
Debt Recovery (Range of fixed fees) for a business to business debt that is undisputed
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 (ex VAT) | Total |
|---|---|---|---|
| Up to £5,000 | £35-205 | £570 | £605-775 |
| £5,001-£10,000 | £455 | £630 | £1085 |
| £10,001-100,000 | 5% value of the claim | £690 | £1,190.05-5,690 |
All Fees are Exclusive of VAT
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 or where a debt is disputed by the other party.
Our fee includes:
Taking your instructions and reviewing documentation
Undertaking appropriate searches
Sending a letter before action
Receiving payment and sending onto you:
Our fees do not include:
If the debt is not paid, drafting and issuing a claim for and particulars of claim
Where no Acknowledgement of Service or Defence is received, applying to the court to enter Judgment in default
When Judgment in default is received, write to the other side to request payment
If payment is not received within 7 days, providing you with advice on next steps and likely costs
Matters usually take 2-12 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.
In the event that a debt is disputed, Court proceedings may need to be issued to determine whether the debt is due or not. The Debtor may also bring a counterclaim. In such circumstances, we will consider and explore settlement/negotiation/ mediation options, defences and preparation for trial, which will include deciding whether or not a barrister needs to be instructed on your behalf. This type of work adds approximately a further 9 – 12 months onto the timescales towards resolution and in terms of costs, a further £10,000 – £40,000 + VAT + disbursements, depending on the complexity of the mater and the number of witnesses and experts appearing on your behalf, amongst other factors, which we will be happy to discuss with you when advising you in respect of your matter.
There are a number of ways to enforce a judgement. We will advise you of the options available and their associated costs, specific to your matter, at the appropriate time.
Fee Earners
Where matters are undertaken on an hourly rate, the principal fee earner dealing with your matter will be Ms Sarika Jetwani, who is a Solicitor and a Partner, with extensive experience in debt recovery work. Her hourly rate is £350 + VAT. Ms Jetwani will be assisted by Ms Kaushika Herft, who is a Solicitor and her hourly rate is £200 + VAT.
