Debt Recovery – Pricing
Our team in the Civil Litigation Department know that late payment of invoices and debt recovery creates many problems, at the very least chasing late payers is frustrating and time consuming, it can even mean you are unable to pay your suppliers on time and threaten the working relationships you have endeavored to build. In some cases it can be critical, in the UK businesses cease to trade every week simply because they have not been paid and cannot meet their outgoings.
Letter before action cost
You can be assured that by instructing us to pursue the amount due we will do all that we can to recover everything that you are owed. We will look to recover your debt as soon as possible, initially by sending a letter before court action which could cost as little as £144 including VAT (plus the disbursements as detailed below).
What happens if that doesn't work?
Where the debt is contested and the matter proceeds all the way to a fully contested trial the costs could reach into the region of £30,000 including VAT (the likely disbursements are detailed below). We will of course discuss and agree with you likely costs before incurring any expense.
Depending on the value of the debt in question the court fees will vary, the most up-to-date list of these can be found on HM Courts and Tribunals Service website. These range from £35 to 5% of the amount in question (if greater than £50,000 but not more than £100,000).
If, due to the nature and particular complexity of your matter an expert has to be instructed, such as a Barrister, to assist in the recovery of your debt the fee payable to them would likely be in the region of £6,000 (inclusive of VAT). We would of course agree this with you prior to incurring any additional costs.
Find out more about the hourly rates of those involved and the way we charge for our work by viewing our terms of business.
Below contains a typical timetable the court may give for the preparation of the case.
|Exchange of witness statements||10 weeks|
|Exchange of experts reports||14 weeks|
|Sending of pre-trial checks (listing questionnaires) by the Court||20 weeks|
|Filing of completed pre-trail check lists||22 weeks|
How can we help you?
Call us today on 01323 644222 to get the specialist help you need.