Debt Recovery for Business
We offer a variety of services to assist businesses in resolving disputes.
We regularly assist our business clients in recovering debts that are due to them. We offer an initial fixed fee meeting to enable our clients to get a straight forward answer at the outset of any dispute.
Our fees for a fixed meeting start from £160 (inclusive of VAT) for 45 minutes of advice. We can also offer a detailed letter of advice, setting out next steps and any specific issues to consider for an additional fee of £30 (inclusive of VAT)
In a large amount of cases, a fixed fee meeting can assist a client in resolving the dispute without needing to incur further legal fees. For guidance as to how to get the best out of a Fixed Fee meeting please click here.
Where, however, further legal advice and assistance is required we charge on an hourly rate for all work carried out. If it becomes necessary to apply to Court then in addition a court fee will be payable. The fee is dependent upon the value of your claim and further details of these fees can be located from the court website here https://test.gov.uk/court-fees-what-they-are.
We will always give a clear indication of what our fees are likely to be once we have an understanding of the particular facts of your dispute.
As everyone’s circumstances are different it is not possible for us to set out a fixed overall fee. We will, however, always give a clear indication of what our fees are likely to be once we have an understanding of the particular facts of your dispute. We will never exceed an initial limit agreed without discussing with you the future steps needed, the prospects of success and an explanation of any risks associated in terms of the possibility of you having to pay the fees of the other party if you are unsuccessful. We will only take further steps and go outside of the initial limit agreed once this has been discussed and agreed with you.
On average, where we are instructed to issue proceedings to recover a debt and this is not defended by the person owing the money, our fees are in the region of £400 – £550 plus VAT, plus any court fee payable in accordance with the level of court fees as referred to above.
We will never incur costs without agreeing with you the steps needed and the anticipated costs for taking those steps.
Where the potential claim is less than £10,000 legal costs are generally not recoverable from the other party. For these types of claims we also offer an alternative small claims service, further details are available here.
There are various issues or events that could cause our fees to be at a higher level, in particular:
- If the creditor defends or puts forward a claim against you in response to your claim
- If further information comes to light which indicates that the initial advice given may need to be reviewed
- If the person or company owing the money goes bankrupt or becomes insolvent
We always advise our clients at the outset that merely obtaining a court judgment is not a guarantee that you will be able to force the debtor to make payment. Further action may be necessary by way of an application to court to enforce an Order. We will always discuss and agree these steps with you at the outset of your instruction, and consider again if necessary once an Order has been made.
For further information, or to discuss how we might be able to assist you please contact us.
For businesses who would like to retain our firm to carry out regular debt recovery work we do offer a reduced fee service. If you would like to discuss this option in further detail please contact Nicola Codd who will be happy to discuss our levels of service and agree an appropriate pricing structure dependant on your needs and circumstances.