We are a business-to-business debt recovery specialist.
We offer bulk collection services on a bespoke basis to large businesses.
We agree pricing with our clients based on their business needs, the volume of debts, size of the debt, realisation ratios, customer risk profiles, sector and many other business-specific considerations. We may offer bespoke fixed fees, contingent fees, monthly retainers, reduced hourly rates and/or a combination of these depending on the factors set out above.
We pride ourselves on having no standard packages and no one-size-fits-all approach and we do not have a standard or fixed range of fees in most cases.
Whilst we are not primarily instructed on individual debt recovery matters, such matters would be undertaken on a time spent, hourly rate basis.
Our usual hourly rates (all exclusive of VAT) for matters on a time spent basis are as set out in the table below:
||Price per hour
||£250.00 to £350.00 plus VAT
||£180.00 to £200.00 plus VAT
|Solicitor or legal executive
||£135.00 to £175.00 plus VAT
|Trainee solicitor or paralegal
||£125.00 to £135.00 plus VAT
Debt recovery matters usually involve sending letters, emails and making calls to a debtor with the threat of court action if payment is not made. Where court action is necessary, this involves issuing a claim at court to recover the debt owed.
Where a debt remains unpaid, enforcement action may be necessary, such as instructing a bailiff. Where your debt is disputed at any point, we will discuss further work required and provide you with revised advice about likely costs based on the specific circumstances and issues involved in the dispute.
Anyone wishing to proceed with a claim should note that:
- Where a debt is paid pre-issue, usually no fees can be reclaimed from your debtor.
- Where a claim is issued at court, court issue fees apply.
- Where a court claim is not defended, only those court issue fees and court-prescribed fixed costs can be reclaimed from your debtor.
- Interest and compensation may take the debt into a higher banding, with a higher cost.
- Where enforcement action, such as the bailiff, is needed to collect your debt, further court fees will need to be paid, some (but not all) of which can be reclaimed from your debtor, the extent of which depends on the actions necessary, but will usually range from £55.00 to £110.00 plus VAT.
- Where a debt is defended, further expenditure may be required on court fees and barrister fees for dealing with additional court stages including disclosure of documents, witness evidence and a final trial, the extent of which depends on the specific circumstances and issues involved in the dispute, but will usually range from £500.00 to £10,000.00 plus VAT.
Usual steps in uncontested debt recovery matters 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 acknowledgement of service or defence is received, applying to the court to enter judgement in default.
- When the judgement in default in received, write to the other side to request payment.
- If payment is not received within ‘X’ days, providing you with advice on next steps and likely costs.
Such matters usually take between two and 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 a letter before action, issuing a claim or judgment in default. If enforcement action is needed, the matter will take longer to resolve. Whether or not the debt is paid also depends on the ability of the debtor to pay the debt.
On average, this type of work takes between two and 10 hours to complete. This means that on average our charges will be between £250.00 and £1,500.00 plus VAT.
The exact number of hours it will take depends on the circumstances of your case, such as:
- If your debtor can pay the debt.
- If your debtor wants to pay the debt.
- If court action and/or enforcement action is required.
If your debtor is willing and able to pay the debt early, our charges are likely to be at the lower end of this range.
For details of members of the team who may work on your matter please view our people page. They are supervised by Natalie Badger.