Debt Recovery For Business Pricing

 

This price information is for assistance in relation to the recovery of debts for businesses up to the value of £100,000.00.

 

Legal Fees and disbursements (Disbursements are costs related to your matter that are payable to third parties).

 

Debt value

Court Fee (disbursement)

Our legal fee

Up to £10,000.00

£455.00

£2000+VAT

£10,001 to £50,000.00

5 % value of the claim

£3500+VAT

£50,001.00 to 100,000.00

5 % value of the claim

Hourly rate

 

Please also note the following:

 

•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.

 

 

 

 

 

What services does this fee include:

 

 

Taking your instructions and reviewing documentation

•Undertaking appropriate searches

•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, providing you with advice on next steps and likely costs.

 

Please note that the fees quoted above do not include the costs of enforcing the Judgement.

 

The experience of the people who may carry out the work for you:

 

Aneil Naeem 12year+  Qualified Solicitor

Sohail Ghani 8year+ Qualified Solicitor

 

 

The typical timescales.

 

 

 

•  Matters usually take between  6-8 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.