Debt Recovery Costs
Our Fixed Fee Charges For Undisputed Claims
If the debt becomes disputed, we will discuss with you further work that will be required. This could be a fixed fee, or if more complicated, an hourly rate.
Stage 1 – Letter of Claim
Up to £50 + VAT depending on the value of the debt.
Our letters of claim will demand payment of the outstanding debt within 7 days.
Stage 2 – Issuing a Claim Form
|Debt||Court Fee||Our Fee|
|Up to £300||£35||£65 + VAT|
|Up to £500||£50||£75 +VAT|
|£1,000 – £1,500||£80||£150+VAT|
|£1,500 – £3,000||£115||£175 +VAT|
|£3,000 – £5,000||£205||£200+VAT|
|£5,000 – £10,000||£455||£250 +VAT|
|Over £10,000||5% of the claim||£300 +VAT|
Timescales: After the Court has issued the claim, the Defendant will have 14 days to file a defence. This will be extended to 28 days if the Defendant files an Acknowledgement of Service indicating an intention to defend the claim.
If a debtor disputes a claim, it ceases to be a debt recovery matter and would have to be dealt with by our commercial litigation team. Our normal hourly rates would then apply. As a result, the cost would be determined by the amount of time spent on dealing with the matter and the relevant hourly rate.
Additional services if necessary
The prices stated below are for our legal fees, please
- Up to £10,000 – £50 +VAT
- Over £10,000 – £75 + VAT
An application will be made to enter judgment immediately after the expiration of the time limit permitted for the filing of a defence.
Enforcement of Judgment
- Warrant of Execution – £75 + VAT*
- Attachment of Earnings – £175 + VAT*
- Third Party Debt Order – £275 + VAT*
- Charging Order over
property£500 + VAT*
- Court application fees – £110 (these may be subject to change)
- Representative’s fees- will depend upon hearing
Timescale: A typical timescale for enforcing a judgment is 6 – 12 weeks.
Issuing a Statutory Demand –– £195 + VAT*
- Process server fees: £125 + VAT
Timescale: Once a statutory demand has been served on the Debtor, the Debtor will have 21 days to make payment.
*Fixed fee includes one attendance at Court and does not include court fees, process server fees, advertisement fees, Official Receiver fees, Land Registry fees, bailiff fees or barrister’s fees.
Please note that If you wish to
- Interest and statutory compensation can push the overall amount owed
upand may take the debt into a higher banding (see above) which in turn may incur a higher cost
- Disbursements such as Court fees will vary depending upon the value of the debt. These are set by the Ministry of Justice
- fixed fees do not include providing you with advice in relation to your claim and only cover the transactional process.
- You would not be able to recover the VAT element of our fees from the debtor.
What qualifications do we hold?
For more information click HERE