Debt Recovery For Corporate Clients

Our aim is to provide a proactive debt recovery service and to maximise the prospect of a successful recovery.

These costs apply where;

a company is seeking to recover costs from either another business or from an individual
your claim does not exceed £100,000
is in relation to an unpaid debt which is not disputed
enforcement action is not needed

If the other party disputes your claim at any point we will discuss any further work required and provide you with revised advice about costs if necessary, which could be on a fixed fee (e.g. if a one off letter is required), or an hourly rate if more extensive work is needed.

Stage 1 – Letter of Claim

Option 1

Business to Business or Individual to Business Debt
Seeking payment of the principal debt only.
7 day Letter of Claim - £50.00 plus VAT

Option 2

Business to business debt
Seeking payment of the principal debt, plus late payment interest, compensation costs and reasonable recovery costs.
7 day Letter of Claim - £75.00, plus compensation costs recovered, plus VAT

Option 3

Debt owed by an individual to a business
Seeking payment of a debt due to a business by an individual including a sole trader.
30 day Letter of Claim - £120.00, plus compensation costs recovered, plus VAT

Our fees at Stage 1 include -

Includes taking instructions,
reviewing supporting documents provided by you at the outset,
advising on course of action,
Undertaking appropriate searches
calculating monies recoverable (option 2 and 3 only)
Sending a letter of claim
preparation and sending letter of claim by first class post to a UK address.
Informing you of any response within 10 days

Our Fees will include Compensations costs recovered and commission. These are £40.00, £70.00 or £100.00 depending on the value of the invoice.
Commission of 5% based on the amount successfully recovered.

Stage 2 – Court issue/ Default Judgement

With 85% of our cases, we find the initial letter of claim is enough to prompt a debtor to pay. However in the other 15%, further action may be required. The next stage is to apply to the court for default judgement.

Preparation and issue of court action - £150.00 plus VAT
Preparation and application for default judgment - £50.00 plus VAT

Our fees at Stage 2 include -

Applying to the Court to enter Judgement in default, where there has been no Acknowledgement of Service or Defence received.

Time scales – Stages 1 & 2

Matters usually take 3-6 weeks from receipt of your instructions to receipt of payment from the debtor depending on, which option at Stage 1 is applicable and whether or not it is necessary to issue a claim (Stage 2).

General notes

The VAT element of our fee is not recoverable from your debtor.
Interest, compensation and reasonable costs may take the debt into a higher banding the court fees

Further Stages

If default judgement is unsuccessful, we will advise you of the next stages to proceed with recovering the debt. This can vary from case to case and so we have listed below any fees which may be applicable. We will advise you according to your individual case, which of these are applicable to your matter and also advise of any disbursement which may be payable at each stage.

Application to High Court Enforcement Officer for transfer and enforcement by Writ of Control - £155.00 plus VAT
Fee for negotiating settlement by instalments, monitoring instalments due and received and if necessary chasing instalments. Including all incoming/outgoing communications. - £500.00 plus VAT
Fee for sourcing, engaging and instructing a Trace agent and reporting to you with the findings - £80.00 plus VAT
Fee for obtaining Office Copy Entry from the Land Registry - £25.00 plus VAT
Fees charged on an hourly rate for face to face Meetings, attendance at Court - £195.00 plus VAT per hour
Fee for additional communication (not covered above) - £15.00 plus VAT
Preparation and arranging personal service of a Statutory Demand - £500.00 plus VAT