Debt Recovery (up to 10,000.00) – Between £3,000.00 - £5,000.00 plus VAT (This will depend on whether the debt has been contested or not and complexity)
Debt Recovery (from £10,001.00 to £25,000.00) – fees are likely to be between £9,000.00 - £15,000.00 depending on complexity
Debt Recovery (from £25,001.00 to £100,000.00) – fees are likely to be between £20,000.00 and £40,000.00 depending on complexity
Debt Recovery matters tend to be fact specific and can vary in terms of simplicity with some cases being much more involved and complex than others. These prices are starting estimates, your solicitor will be able to provide you with a more specific tailored estimate following your initial consultation and as the matter progresses.
· Taking Instructions
· Preparing your letter of claim and issuing proceedings
· Seeking judgement in default if necessary
· Completing a directions questionnaire
· Entering negotiations with view to settle
· Attending management hearings
· Reviewing evidence
· Preparing witness evidence
· Attending a final hearing if matter is not settled under negotiations.
Fees do not include:
· Enforcement of judgement
· Any Appeal
· Any counterclaim against you
· Court Fee
· Counsel Fees
· Hearing Fee
· Due Diligence - £2.40 per person
· Meeting with a solicitor
· Reviewing your documents and considering the amount intended to recover
· Notifying the debtor of possible court proceedings if debt not settled or negotiated.
· If unable to negotiate to proceed with legal proceedings
· Preparing case management documentation and proceeding to prepare for trial
· Encourage negotiations or proceed to attend a final hearing where the judge will make an order and determine any cost and/or interest to be awarded.
These matters usually take from 9 months to a year from issuing court proceedings dependent on court availability