There is a lot you need to know before you sign a commercial lease. Read our guide on the key considerations to review when you are in the position of signing a commercial lease. The considerations when taking or granting a commercial lease are many, and...
Debt Recovery services and costs for a business seeking to recover debts up to the value of £100,000.
We charge for this type of work on the basis of an hourly rate.
The applicable fee per hour rate will be depending on the complexity of the case and ranges from £120-£260 per hour (plus VAT at 20%).
The legal advisers who work on Debt Recovery matters can be viewed here.
Stage 1 – PreAction
The work we will undertake PreAction is receiving client instructions, reviewing the documents involved and preparing a letter before action.
Typically this work will take 1-2 hours and take between 4-7 days to complete.
Stage 2 – Issuing claim
In order for Stage 2 to commence, no response from the other party asserting a dispute will have been received.
Costs applicable for Stage 2 are:
Debt value | Court Issue Fee VAT not applicable | Our fee* exclusive of VAT | VAT | Total |
Up to £5,000 | Up to £205 | £200-£300 | £40-£60 | Up to £565 |
£5,001-£1,0000 | £455 | £200-£300 | £40-£60 | Up to £815 |
£10,001-£50,000 | 5% value of the claim | £250-£350 | £50-£70 | Up to £2920 |
*Typical legal fee range price depending on complexity of case
Our fee is for preparing the claim form and particulars of claim, arranging issue and service of proceedings by relevant Court – NB. these are the preliminary steps for starting a Court claim.
Typically this work will take 4-6 weeks from preparing the documents to the Court sending the documents to the other party and providing confirmation that the action has been started.
Stage 3 – Obtaining Judgement/Enforcement
There are two stages to Stage 3, they are a) obtaining and b) enforcing judgement
Costs applicable for Stage 3 are:
a) Additional Court fees payable depends on method of enforcement taken. You can see these fees here.
Our typical legal fee range for obtaining judgement in default is £100-£150 (plus VAT at 20%).
b) Our typical legal fee ranges for enforcing judgement are as follows:
Method of Enforcement | Court fees VAT not applicable | Our fee range | VAT | Total | |
1 | Debtor to attend Court for questioning | £55 | £150-£200 | £30-£40 | Up to £295 |
2 | Bailiff action | £110 | £150-£200 | £30-£40 | Up to £350 |
3 | Attachment of Earnings order | £110 | £200-£250 | £40-£50 | Up to £410 |
4 | Charging order | £110 | £600-£850 | £120-£170 | Up to £1130 |
Our fee is for preparing the necessary applications and arranging for issue/service by the Court.
Typically the work for Method of Enforcement 1,2 and 3 in the table above will take 3-4 weeks.
Typically the work for Method of Enforcement 4 in the table above will take 4-10 weeks.
Assumptions:
- These fees assume service by the Court and not service arranged by ourselves or by a third party process server.
