DEBT RECOVERY: RANGE OF FIXED FEES FOR A BUSINESS TO BUSINESS DEBT THAT IS UNDISPUTED
Price Transparency Guidance
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.
Please see the government website for details of the court fees charged:
We charge on contentious litigation mater on a timed basis, based on our hourly rate of £260 for a partner.
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fee cannot be reclaimed from your debtor;
- Interest and compensation may take the debt into a higher banding, with a higher cost;
- The costs quoted above are not for matters where enforcement action is needed to collect your debt.
Our fee includes:
- Taking your instructions and reviewing documentation;
- Undertaking appropriate searches;
- Sending a letter before action;
- Preparing and filing a claim;
- Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing claim;
- Where no Acknowledgment of Service or Defence is received, applying to the Court to enter Judgement in Default;
- When Judgement in Default is received, writing 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.
It is impossible to give an accurate timeframe for such matters as many factors which determine this are entirely outside of our control, such as when and how the debtor responds, or how long it takes the court to respond or set a hearing date. We would estimate that a matter can take anything from 12 to 52 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 Judgement in default. If enforcement action is needed, the matter will take longer to resolve.