Pricing – Debt Recovery (up to £100,000)
Our Dispute Resolution department has vast experience in matters relating to debt recovery. Below are the costs that apply where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed.
|Value of Debt||Court fee||Our fee||Total|
|Up to £300||£35.00||£300.00 plus VAT||£395.00 (inclusive of VAT)|
|Greater than £300 but no more than £500||£50.00||£350.00 plus VAT||£470.00 (inclusive of VAT)|
|Greater than £500 but no more than £1,000||£70.00||£400.00 plus VAT||£550.00 (inclusive of VAT)|
|Greater than £1,000 but no more than £1,500||£80.00||£450.00 plus VAT||£620.00 (inclusive of VAT)|
|Greater than £1,500 but no more than £3,000||£115.00||£550.00 plus VAT||£775.00 (inclusive of VAT)|
|Greater than £3,000 but no more than £5,000||£205.00||£650.00 plus VAT||£985.00 (inclusive of VAT)|
|Greater than £5,000 but no more than £10,000||£455.00||£700.00 plus VAT||£1,295.00 (inclusive of VAT)|
|Greater than £10,000 but no more than £15,000||5% of the value of the claim||£800.00 plus VAT||Between £1,460.00 and £1,710.00 (inclusive of VAT)|
|Greater than £15,000 but no more than £50,000||5% of the value of the claim||£900.00 plus VAT||Between £1830.00 and £3,580.00 (inclusive of VAT)|
|Greater than £50,000 but no more than £100,000||5% of the value of the claim||£1,000.00 plus VAT||Between £3,700.00 and £6,200.00 (inclusive of VAT)|
|Greater than £100,000 but no more than £150,000||5% of the value of the claim||£1,200.00 plus VAT||Between £6,440.00 and £8,940.00 (inclusive of VAT)|
|Greater than £150,000 but no more than £200,000||5% of the value of the claim||£1,350.00 plus VAT||Between £9,120.00 and £11,620.00 (inclusive of VAT)|
|Greater than £200,000||£10,000.00||£1,500.00 plus VAT||£11,800.00 (inclusive of VAT)|
Our fee includes:
- Taking your instructions and reviewing documentation;
- Undertaking appropriate searches;
- Sending a Letter of Claim;
- Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing court proceedings;
- Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgment in default; and
- When Judgment in default is received, writing to the other side to request payment.
Our fee does not include:
- Enforcing the default Judgment
- Dealing with an application to set aside Judgement
Please note that:
- The VAT element of our fee cannot be reclaimed from your debtor.
- If the value of the claim is less than £10,000.00 you will not be able to recover the full extent of our costs from the 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 Judgement debt.
In terms of timings, as a rule of thumb, matters generally take approximately 12 weeks from receipt of instructions to receipt of payment from the debtor assuming that it is necessary to issue a claim and the debt is not disputed. This is on the basis that the debtor pays promptly on receipt of Judgment in default.
If enforcement action is needed or the debt is disputed, the matter will take longer to resolve.
If the debtor 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. for a specific step such as providing a letter of advice), or an hourly rate if more extensive work is needed. Such fees would be proportionate to:
- the amount of money involved;
- the importance of the claim; and
- the complexity of the issues.
If a disputed claim proceeds to trial, after the substantive matters have been decided, the court will make a costs order. The general rule is that the ‘losing’ party is ordered to pay the costs of the successful party. Such costs will be subject to detailed assessment in the event that they are not agreed. Historically, when the courts have had occasion to assess our costs they have generally found them to be very reasonable – and often significantly less than those of our opponents.
HERE is a list of the key stages in litigation generally. This list is not confined to just debt claims. We hope you find this useful.
WHO WILL WORK ON MY MATTER?
Our specialist Dispute Resolution solicitors can provide you with proactive and valuable advice and guidance to help recover payments due to your business in a straightforward, swift and cost-effective manner.
Andrew Ryan – Partner
An experienced commercial litigator, Andrew heads up our Dispute Resolution department. Having qualified as a solicitor in 1992, Andrew joined the firm as a partner in 2003. He has a breadth of experience in debt recovery matters and all areas of Dispute Resolution. His hourly rate is £275.00 plus VAT.
Rebecca Taylor – Solicitor
Rebecca joined the firm in 2016 as a trainee solicitor. Now having qualified as a solicitor in 2018, Rebecca is a key member of the team and has considerable knowledge of debt recovery matters. Her hourly rate is £180.00 plus VAT.
A Trainee Solicitor spends six months in the Dispute Resolution department during their two year training contract at Davis Blank Furniss. The Trainee Solicitor works under the direct supervision of Andrew Ryan. Their hourly rate is £130.00 plus VAT.