Quality does not necessarily come at the cheapest cost. We do not, as some firms do, price our costs as a percentage of the value of the debt to be recovered.
We have set out this guide of our pricing for debt recovery services up to £100,000. By “debt recovery” in this context we mean the recovery of invoice debts owed to our clients where those debts arise from contractual relationships for the supply or goods and / or services, or where our clients have a statutory entitlement to the sums owed where the sum owed is up to £100,000 and that debt is undisputed. The best way to get an accurate indication of price is to speak to us on 01643 707777 to give us a full appreciation of your situation and requirements. If the debt is disputed from the outset or following proceedings being issued our fees will be significantly higher and may well exceed the value of the debt.
Either of Julian or Sheree-Ann will have overall responsibility for your work, regardless of who works on your matter. They may be assisted by more junior fee earners including paralegals, trainee solicitors, solicitors, associate solicitors and senior associate solicitors. Debt recovery work can vary greatly in complexity. Your instruction will be dealt with by people whose expertise is appropriate to the task in hand. Our team has more than 50 years collective experience of debt recovery work.
Details of the members of our litigation team who may work on your matter or be responsible for it are set out in the table below:
All of our solicitors have a broad range of litigation experience and can assist with debt recovery as well as other litigation work. All work is supervised closely by Julian Maitland-Walker and Sheree-Ann Virgin.
The basis of our fees
Our work in this area is undertaken on an hourly rate basis – we will invoice the time on the clock monthly or at the conclusion of a matter. On the basis of certain assumptions and our experience of similar transactions we will outline estimates of what our fees may be for each stage. The names and hourly rates of those who undertake this work will be set out in the engagement documents that we will provide to you which shall include a fee estimate for the scope of the work that we are asked to perform. Our hourly rates are as follows:
|£275 to £450 plus VAT
|£240 to £270 plus VAT
|£190 to £235 plus VAT
|£155 to £185 plus VAT
|Trainee Solicitor & paralegal
|£130 to £150 plus VAT
Our average fees for work within each state of the debt recovery process is as follows:
County Court proceedings
Stage 1 – Pre-Action
Stage 2 – Proceedings
If the other party disputes the debt or wishes to negotiate at any point we will discuss any further work required and provide you with revised advice about costs.
Anyone wishing to proceed with a claim should note that:
The costs quoted above are not for matters where enforcement action such as the bailiff, is needed to collect your debt. For more information on the methods of enforcement click here.
We will usually seek to recover your undisputed business to business debt of up to £100,000 debt by county court proceedings and insolvency proceedings are not, strictly speaking, a form of debt recovery. However occasionally you might seek to discuss with us the viability of insolvency proceedings. Below is an overview of the fees of such proceedings and we would be happy to discuss the process with you.
Anyone wishing to proceed with insolvency proceedings should note that: