PRICING FOR DEBT RECOVERY OF UP TO £100,000.00 FOR BUSINESSES

Please note that these costs are for general guidance purposes only, in respect of pursuing or defending a debt claim.  A tailored quote will be provided on further enquiry, subject to the complexity of a particular matter and issues which may not be anticipated at the outset of instructions.

Our Debt Recovery Team

Mark Brassey – Partner

Shahnaz Farahi – Senior Associate Solicitor

Francine Heggie – Paralegal

Solicitors’ fees

Partner - £400 plus VAT.

Senior Associate Solicitor - £300 plus VAT.

Paralegal - £185 plus VAT.

Our fees are charged at the above rates on a time spent basis.

The stages through which debt recovery matters proceed, are set out below and as to each include:

• liaising with you to clarify instructions and updating you regularly;
• undertaking searches;
• reviewing all documents and corresponding with the opponent and the court;
• instructing Counsel (where necessary); and liaising with witnesses (if any). 

In the event that a matter should require additional interim applications (by either party), involve international jurisdictional issues or property transactional work, such work will fall outside the work contemplated below.

Disbursements

Counsel’s fees – Counsel (Barristers) may be instructed to advise more specifically on a technical issue or to appear at court hearings.  Our contract for their services is entered into with Counsel’s chambers.  Fees must therefore be agreed with Chambers.  The level of fees will depend on the particular complexity of your matter, the extent of work required to be done and the seniority of the particular Counsel selected.

Our fees for interim hearings range between £1,000 - £3,000 plus VAT and for one day hearings fees our fees range between £1,500 -£4,500 plus VAT.

Court fees – A fee is payable to issue the claim and is based on the value of the claim.  Court payable fees after issue, are fixed.  There is no VAT on court fees.

Stages

• Pre-Action - Preparing or replying to a Letter Before Action in a straight forward uncomplicated debt matter.  Our fees range: £300- £1,200 plus VAT.
• Alternative Dispute Resolution (ADR) – The courts will expect to have seen the parties to have made some effort to negotiate/mediate in order to avoid litigation.  If you should choose to involve a professional mediator, you will be responsible for your equal share of the mediator’s fees as well as your own solicitors/counsels’ costs.  A one-day mediation will involve costs range of: £3,500 - £8,000 plus VAT.
• Claim/Defence/Counter Claim/Reply – Our Fees Range: £2,500 - £5,000 plus VAT.
• The court fee payable on filing a claim is fixed for claims up to £10,000 and then 5% on the value of the claim (including interest) to a maximum of £5,000.
• Judgment – If default Judgment is entered, our fees range: £100 - £200 plus VAT.
• Case Management - If a case is defended, the court will allocate this case to “Track” depending on its value, complexity and issues to be determined.

The value £10,000 or less- Small Claims Track.  

• Trial automatically listed, limited directions timetable and simplified to enable the parties to proceed without legal representation.
• Hearing fee: £335 subject to claims value.
• Solicitors’ costs irrecoverable save in exceptional circumstances.
• Court fees and nominal fixed costs recoverable, if the claim is successful.

Our fees range: £2,500 - £5,000. plus VAT, depending on complexity, volume of documents, involvement of Counsel.

Value £10,000.00 + to less than £25,000 – Fast Track. 

• Standard Directions, one day hearing, limited costs recovery for trial.
• Hearing fee £545.00

Our fees range: £5,000 to £12,000 plus VAT.  

Claim value £25,000.00 + - Multi Track.

• Preparation of Cost Budgets, Case Management Hearing, tailored Directions and timetable to Trial, substantial mutual documents disclosure, Witness evidence, preparation and possibly Expert involvement. Trial can be listed for between 2-4 days.
• Hearing fee £1,090.00.

Our fees range: in standard cases £8,000 - £50,000. plus VAT depending on complexity, volume of documents, number of witnesses, expert involvement.

Our fees range for Enforcement

• Statutory Demand - £800 - £1,500 plus VAT.
• Bankruptcy Petition - £3,500 - £5,000 plus court fees/deposit - £1,270.
• Third Party Debt Order - £600 - £800 plus VAT and court fee £110
• Charging Order - £900 - £1,800 plus VAT plus court fee £110