Fees & Transparency

In accordance with the SRA requirements on transparency in price and service, we publish the following information in respect of our work relating to the provisions of debt recovery services to
members of the public.

VAT
(We currently do not charge VAT on our fees; however, we are in the process for registering for VAT. Once registered, VAT will be charged at 20%.)

(We currently do not charge VAT on our fees; however, we are in the process for registering for VAT. Once registered, VAT will be charged at 20%.)

Hourly Rates

We charge the following hourly rates on average:

Grade A Solicitors, those solicitors with over 8 years’ experience – £350
Grade B Solicitors, those solicitors with between 8 and 4 years’ experience – £255
Grade C fee earner those who are newly qualified
up to four years’ experience and or have equivalent experience – £165
Grade D fee earners those who are not qualified as solicitors – £100

Being charged at an hourly rate can be cheaper than a fixed fee if your case is simple, but if it is complex the costs may be more.

Disbursements

These are the additional costs which are not normally within our quotes unless specifically identified. These can be court fees, barrister fees, copying costs, travel costs etc.

Although our fees do not attract VAT, you may be required to pay VAT on any such disbursements which may be due throughout your case. VAT is currently charged at 20%.

Standard Undisputed Debt Recovery Process

For undisputed debts we charge a fixed fee for each stage of the Standard Undisputed Debt

Recovery Process (Stages 1 -4) which includes:

  • Standard progress reports/updates
  • Telephone updates
  • Advice on alternative enforcement options of the Judgment
  • Handling disputed debts
  • Telephone calls to/from Debtors
  • Setting up/Monitoring instalment plans

IMPORTANT PLEASE NOTE:

Our Standard Undisputed Debt Recovery Process does not include:

Bespoke Particulars of Claim (which are quoted for upon request and dependent on the facts of the claim)

Stage 1 – Letter Before Action

Stage 2 – Issuing Court Proceedings (Court Claims)

Stage 3 – Applying for Judgement

Stage 4 – Enforcement of Judgement

Defended Small Claims (up to £10,000)

Defended Fast Track and Multi-Track Claims

Work undertaken on an hourly rate and an estimate will be provided at the time the Defence is received. The current hourly rate of the Solicitor undertaking work in the Debt Recovery Team is £255 per hour.

(We currently do not charge VAT on our fees; however, we are in the process for registering for VAT. Once registered, VAT will be charged at 20%.)

Miscellaneous Charges and Services

Exclusions

Our fees are fixed and include items detailed above, however there may be factors which would typically increase the cost of the fees. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

  1. Any work done between the expiry of a demand letter and the issuing of Court proceedings e.g. telephone chasers and updates to you.
  2. Enforcement proceedings including instructing a Bailiff.
  3. The matter is over £10,000 and as such falls outside the small claims track limit.

Timescales

There is no typical debt recovery timescale. However, to provide an indication a typical debt recovery demand letter provides for a response within 7 days for a company debtor and 30 days for an individual debtor.

As detailed above if enforcement action is required, we will discuss the fees and timescales involved.

Key Milestones

Every transaction has a key milestone which may vary according to individual circumstances. Our fee will include these milestones and may be as follows:

  1. Taking your instructions and reviewing documentation.
  2. Undertaking appropriate searches.
  3. Issuing a letter before action requesting payment from the debtor.
  4. Receiving payment and sending this on to you.
  5. Drafting and issuing a claim form to the relevant Court if the debt is not paid.
  6. Applying to the Court to enter a Judgement in Default if the debtor fails to respond to Court

    proceedings.

  7. Contacting the other side to request payment where a Judgement in Default has been issued

    by the Court.