Cash collection is key to the health of any business. We have experience in acting for all types of businesses in debt recovery. We undertake volume collection of debts for business clients and are happy to discuss and agree on appropriate rates to undertake such work
Our work is charged at an hourly rate. Hourly rates depend upon the level of fee-earner as follows:
– Partners/Consultants/Solicitors with more than 8 years’ experience £275.00
plus VAT
– Solicitors and Legal Executives with over 4 years’ experience £245.00 plus VAT
– Litigation and other executives with over four years’ experience £225.00 plus VAT
– Other Solicitors or legal Executives and fee earners or equivalent experience £200.00 plus VAT
– Trainee Solicitors, Paralegals and other fee earners £142.00 plus VAT.
We will provide an estimate of costs at the outset and submit regular interim invoices so that clients are fully aware of the costs incurred.
Court fees will also be payable if court proceedings are required, and you will be advised of the same if needed.
Anyone wishing to proceed with a claim should note that interest and compensation may take the debt into a higher banding, with a higher cost.
The work we undertake on your debt recovery matter charged at the above hourly rate includes:
– Taking your instructions and reviewing documentation
– Undertaking appropriate searches
– Sending a letter before action
– Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing a claim
– Where no Acknowledgement of Service or Defence is received, applying to the court to enter Judgement in default
– When a judgment in default is received, write to the other side to request payment
– If payment is not received within 7 days, providing you with advice on next steps and likely costs
Simple debt recovery matters usually take 1-8 weeks from receipt of instructions from you to receipt of payment from the other side, depending on whether it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of the judgment in default. If enforcement action is needed, the matter will take longer to resolve.