debt claim costs
Our average charge for debt recovery up to the value of £100,000 is as follows:
- £1,000 to £2,000 + VAT if the matter remains uncontested.
- £10,000 to £25,000 + VAT if the matter is contested.
These estimates are simply an average price based upon recent instructions. The actual cost to you will depend on many factors which we will discuss with you before the transaction commences.
The charge is based on our average hourly charging-rate of £195 per hour, which may vary. There may be additional costs such as Court fees, counsel’s fees and enforcement process fees which can vary considerably and are totally dependent upon the value of the transaction and the instruction of counsel. For example Court fees can range from £25 to 4.5% of the claim value and counsel fees (if instructed) can range from £350 + VAT to in excess of £5,000 +VAT depending upon the level of involvement.
In normal cases the expectation will be that the debtor will pay the majority of these costs. However, this may not be possible and if not, you will remain liable for our costs and charges.
Our people involved in doing the work will include: Andrew Lovett.
The work we carry out may involve:
- Ascertaining the position re: the debt (approximately 2-3 weeks)
- Liaison with your debtor and others in an effort to resolve matters (approximately 6 weeks)
- Filing documentation at Court (if necessary, 2-3 weeks thereafter)
- Representation at any hearing (1 day)
- Consequent attendance to ensure the debt is duly paid
Our fees do not include any external costs and charges that may be incurred as part of the process (e.g. damages, fines, penalties or other liabilities). Get in touch if you wish to instruct us on your matter.