Debt Recovery

Commercial & Business Debt Recovery

Having unpaid debt can be hard on businesses of any size. The longer debts remain unpaid, the harder it is for companies to manage cash flow and liquidity. Business debt recovery allows businesses to boost their cash flow with the help of experienced collectors. We have the knowledge and communication skills needed to enforce your unpaid invoices.

Whether you have a portfolio of debtors or are chasing a single invoice, our team of specialist business debt recovery lawyers can help. 

Our team is headed up by Spencer Craig, a specialist Debt Recovery & Civil Litigation Consultant. Spencer and his team provides a personal service for businesses of all sizes. 

Our Fixed Fees

Our prices are very competitive and we believe that we may be unique in that we deal with the issue of claims in the County Court on a fixed fee basis and charge only the solicitors recoverable costs (plus VAT) together with the court fee and do not charge any additional irrecoverable costs.  Details of our up to date fixed fee issue in the County Court is set out below:

Amount
of Debt

Court
Fee

Solicitors’
Cost (Plus VAT @ 20%)

Additional
Cost

Amount
Recoverable

£25 – £299.99

£35

£50 (+£10)

Nil

£85

£300.01 – £499.99

£50

£50 (+£10)

Nil

£100

£500.01 – £1,000

£70

£70 (+£14)

Nil

£140

£1000.01 – £1,500

£80

£80 (+£16)

Nil

£160

£1,500.01 – £3,000

£115

£80 (+£16)

Nil

£195

£3,000.01 – £5,000

£205

£80 (+£16)

Nil

£285

£5,000.01 – £10,000

£455

£100 (+£20)

Nil

£555

£10,000.01 – £15,000

5% of the value of the claim

 

£100(+£20)

Nil

The Court fee in full plus the £100.00
Solicitors costs plus VAT @ 20%

£15,000.01 – £50,000.00

£100(+£20)

Nil

£50,000.01 – £100,000.00

£100(+£20)

Nil

£100,000.01 – £150,000

£100(+£20)

Nil

£150,000.01 – £200,000

£100(+£20)

Nil

Greater than £200,000

£10,000.00

£100(+£20)

Nil

£10,100.00

 

We also deal with the entry of Judgment on the same basis.  We charge only the fixed costs recoverable from the Defendant on the entry of Judgment (plus VAT @ 20%) (see schedule below)

 

 

Where
the Amount of Judgment Exceeds £25.00 but Does Not Exceed £5,000

Where
the Amount of Judgment Exceeds £5,000

Recoverable

from
Debtor

Default of an Acknowledgement of Service

£22.00 (+£4.40)

£30.00 (+£6.00)

All

Default of Defence

£25.00 (+£5.00)

£35.00 (+£7.00)

All

Judgment of Admission

£40.00 (+£8.00)

£55.00 (+£11.00)

All

Judgment After Refection of Offer

£55.00 (+£11.00

£70.00 (+£14.00)

All

 

Any additional work is charged at a competitive hourly rate which is proportionate to the value of the debt. The hourly rates are:

Solicitor / Legal Executive – up to £5,000 – £118.00 per hour (plus VAT @ 20%)

Solicitor / Legal Executive – £5,000.01 to £15,000 – £160.00 per hour (plus VAT @ 20%)

Solicitor / Legal Executive – £15,000.01 plus – £185.00 per hour (plus VAT @ 20%)

We can also deal with contested debts from the early stage of following the Pre-Action Protocol right up to post-litigation and trial. 

 

PLEASE NOTE VAT CHARGED ON SOLICITORS COST IS NOT RECOVERABLE FROM THE DEBTOR

 

STANDARD 7-DAY SOLICITORS’ LETTER         

(TO BE SENT TO A LIMITED COMPANY, PLC OR LIMITED

 LIABILITY PARTNERSHIP)  

£50.00 PLUS VAT @ 20%

SPECIAL DEMAND LETTER PERSUANT

TO THE LATE PAYMENT OF COMMERCIAL

DEBTS (INTEREST) ACT 1998 (AS AMENDED 2013)

£75.00 PLUS VAT @ 20%

SPECIAL DEMAND LETTER TO BE SENT TO AN INDIVIDUAL
(INCLUDING SOLE TRADERS) IN COMPLIANCE WITH THE
PRE-ACTION PROTOCOL FOR DEBT CLAIMS 

£50.00 PLUS VAT @ 20%

CUSTOM DRAFTED WINDING UP

OR SPECIAL DEMAND LETTER         

AS PER HOURLY RATE

 
Please note that for new commercial clients who are going to send debts in volume the above standard prices for letters are open to negotiation.