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DISPUTE RESOLUTION FEES
Debt Recovery Services
The very lifeblood of a business is cash. Every business person can think of an example of a good business that failed, not because its product was substandard or not in demand, but simply because it could not fund day-to-day operations.
Staying on top of payment collection is essential however it is time-consuming and it is tempting to put off awkward conversations or correspondence..
Please note we do not offer ‘no win no fee’ type arrangements (for example Conditional Fee Agreements (‘CFA’s’) for this area of work.
Debt recovery (up to £100,000)
Court Claims
For business debts which are undisputed we offer a range of fixed fees based on the value of the debt.
These costs apply where your claim is in relation to an unpaid invoice which is not disputed and 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.
Debt Value Court Fee Our Fee Total
Up to £4,999 £35 to £205 £900 plus 20% VAT £420 plus Court &
any-search Fees
£5,000 to £9,999 £405 £1500 plus 20% VAT £1,050
£10,000 to £50,000 5% of value of the deb £3500 plus 20% VAT £900 plus Court &
any Search Fees
£50,001 to £100,000 5% of value of the debt £5000 plus 20%VAT £1,200 plus Court &
any Search Fees
Anyone wishing to proceed with a claim should note that:
· The VAT element of our fee cannot be reclaimed from your debtor if you are VAT registered.
· Interest and compensation may take the debt into a higher banding, with a higher cost.
· Barristers instructed from independent chambers who are engaged to attend court hearings and conference or specialist drafting of Pleadings , there will be additional fees payable to the third party lawyers if agreed with the client where necessary.
· The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.
Our fee includes:
Taking your instructions and reviewing documentation
Assessing the merits of the case and preparing the necessary advice to you on a face to face meeting
Undertaking appropriate searches such as Companies House or Land Registry searches. Generally, there is no
charge for Companies House searches but Land Registry searches will typically incur a £3 charge for each search
which is not subject to VAT and will be charged separately.
Sending a letter before action
Receiving payment and sending onto you, or if the debt is not paid, further advice before issuing proceedings
Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgement in
default
When Judgment in default in received, write to the other side to request payment
If payment is not received within 14 days, providing you with advice on next steps and likely costs
Matters usually take 4 -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 Judgment in default. If enforcement action is needed, the matter will take longer to resolve.
Pricing for Other Areas of Law where specific fixed fees are not applicable:
The published pricing information are intended to give you an idea of how our fees are structured so that you can make an informed choice. Please note that the fees outlined are not binding and will depend on individual circumstances once an assessment of your case is established before instruction.
We will send you our Client Care Letter with our Terms of Business setting out a fee estimate specific to your case.
In respect of the pricing information published on our website:
· Residential Property Transactions
· Wills, Powers of Attorney & Probate Matters
· Employment Law
We have outlined the approximate costs of particular services and transactions for individuals and businesses, together with an explanation of possible additional fees, disbursements(expenses) and time.
Most of our fees are based on the hourly rate of all staff who work on a matter.
VAT will be charged at the appropriate rate, currently 20%.
The full breakdown of these rates are as follows:
There are many factors that could affect the total fee, and this will depend on the circumstances of each individual matter, any issues that may arise and the time it takes to resolve them. The fee documents below should therefore be treated as a guide only and not an exact breakdown of our fees. Please do not hesitate to contact us should you have any further queries
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Hourly Rates of Members of Staff
Fees including 20% VAT
Director/Legal Counsel 295.00 354.00
Director/Solicitor 295.00 354.00
Director/Fellow Legal Executive 295.00 354.00
Solicitor 2-5 PQE 250.00 300.00
Solicitor 1-2 years PQE 200.00 240.00