Debt Recovery Pricing

Thank you for looking at our Debt Recovery services. Debts can arise in all walks of life and we regularly advise and assist businesses and individuals alike.

Why Us

We offer a bespoke personal debt recovery service. Chris Eastland can assist you with recovering both disputed and undisputed debts. This page covers our pricing for undisputed debt recovery – please get in touch to find out more about our fee structure for pursuing disputed debts.

Chris can offer you clear, practical advice and will discuss all the options available to establish the most appropriate way of dealing with debtors. We offer an efficient personal service to ensure we can recover undisputed debts quickly, efficiently and cost-effectively, with transparent fixed fees.

Pricing

We appreciate that the fees involved in debt recovery are important to you.

We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. These costs apply for unpaid and undisputed payment of invoice(s). If during the debt recovery process, the matter becomes disputed or enforcement action is required (where you need to appoint a bailiff), we will discuss the change in fees with you and agree a way forward.

SOLICITOR’s LETTER ONLY

Often all that is needed is a solicitor’s letter before action to prompt a debtor into paying up.

Our fixed fee to send a letter before action which covers the following work  

  • Taking your instructions and reviewing documentation
  • Undertaking appropriate searches
  • Issuing a letter before action requesting payment from the debtor
  • Receiving payment and sending this on to you

is     £250 plus VAT ( £300 in total) for debts up to £10,000

or    £350 plus VAT (£420 in total) for debts  from £10,001 up to £100,000.

SOLICITOR’S LETTER PLUS ISSUE PROCEEDINGS

If the debtor does not pay up but the debt is undisputed then it is necessary to issue proceedings and the following costs will instead apply:

When claiming costs from the debtor, it is important to note that the VAT element of any fees cannot be claimed. You can claim interest and compensation which may take the debt into a higher banding, with a higher cost.

Debt Value

Court Fee

Our Fee plus VAT)

Total

Up to £5,000

£205

£500 plus VAT= £600

£805

£5,001 - £10,000

£455

£750 plus VAT=£900

£1355

£10,001 - £50,000

5 % value of claim

£1000 plus VAT=£1200

 

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:

  • Enforcement proceedings
  • Instructing a Bailiff

Time Scales

A typical debt recovery will take between 4-10 weeks, from instruction through to payment from the other side. This may be quicker or longer depending on whether we are required to issue a claim and whether the other side pay promptly on receipt of any Judgment issued by a court. As detailed above, if enforcement action is required, we will discuss the fees and timescales involved.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances. Our fees will include these milestones and may be as follows:

  • Taking your instructions and reviewing documentation
  • Undertaking appropriate searches
  • Issuing a letter before action requesting payment from the debtor
  • Receiving payment and sending this on to you
  • Drafting and issuing a claim form to the relevant court if the debt is not paid
  • Applying to the court to enter a Judgment in Default if the debtor fails to respond to court proceedings
  • Contacting the other side to request payment where a Judgment in Default has been issued by the court
  • If payment is not received within 14 days, providing you with advice on next steps and likely costs.

Can We Help You?

Please call us on 01634 811 118, complete our online enquiry form, or email Chris Eastland ( chris.eastland@kslaw.co.uk).