Call us: 020 8297 4000
Email us:
Fax us: 020 8297 4090

Fees: Debt Recovery

PRICING INFORMATION- DEBT RECOVERY
In accordance with the Solicitors Regulation Authority’s Transparency Rules, we have set out below our average fees for assisting you to conclusion with the following listed debt matters:
- Issuing of letter before action
- Court Proceedings
- Statutory Demand
- Winding up Petition
- Petition for Bankruptcy
Issuing of letter before action
Value of Debt Legal Fees
Up to £100,000 Average £450 to £1,000 Plus VAT
Above £100,000 Please contact us for a tailored quote
Court Proceedings
Value of Debt Legal Fees
Up to £100,000 Average fee £600- £2,000 Plus VAT
Above £100,000 Please contact us for a tailored quote
Statutory Demand
Value of Debt Legal Fees
Up to £100,000 Average £450 to £1,000 Plus VAT
Above £100,000 Please contact us for a tailored quote
Winding Up Petition/ Petition for Bankruptcy
Value of Debt Legal Fees
Up to £100,000 Average £1,800 to £3,000 Plus VAT
Above £100,000 Please contact us for a tailored quote
Defending a Claim
Please contact us for a tailored quote if you are the defendant in a claim.
Our Hourly Rate
For debt matters, we bill based on the numbers of hours spent on a case
and the legal representative working on the case. Our hourly charges are as
follows:
Solicitor: £239 plus VAT
Legal Assistant £95.00 plus VAT
To keep the cost low, both the solicitor and legal assistant will carry out
works on the file.
The above fees are estimates of our charges. We will provide a tailored quote
for debt matters due to various complexities involved in each particular
case. Some cases are simpler than others and our charges will reflect this.
VALUE ADDED TAX
The fees quoted above are exclusive of VAT. We are required to charge VAT
at the current rate of 20% in addition to the legal fees quoted.
DISBURSEMENTS FEES
In addition to the above, there are disbursements fees. We shall provide
you with full details at the outset and in our client care letter subsequently.
Disbursements are fees paid to third parties on your behalf, they are not our
charges. See table below for list of disbursements. Do note that this is not
an exhaustive list.
DISBURSEMENTS FEES LIST
Cost £
Issuing Claim in Court
Court Fees
Value of Debt
Up to £300 £35
£300 – £500 £50
£500 – £1,000 £70
£1,000 – £1,500 £80
£1,500 – £3,000 £115
£3,000 – £5,000 £205
£5,000 – £10,000 £455
£10,000- £20,000 5% of claim
Counsel’s fee for attending hearing (if applicable) TBC
Statutory Demand
Process Server’s Fee £100 – £150 plus
VAT
Bankruptcy Petition
Court fee – to issue petition £280
Search fee-Individuals £3.00
Process Server’s Fee £100-£150 plus
VAT
Deposit to official receiver £990
Counsel’s fee for attending Hearing
TBC
Winding up petition
Court fee – to issue petition £280
Search fee- Company £10.00
Process Server’s Fee £100-£150 plus
VAT
Deposit to official receiver £1,600
Advertising fee £65-£85plus
VAT
Counsel’s fee for attending hearing TBC
*TBC: To be confirmed
* Approx: Approximately
SCOPE OF SERVICES FOR FEES QUOTED AND TIMESCALE
(A) Letter before action
Our work will usually include the following:
 Taking instructions, advising you and requesting for supporting
documents
 Preparation of letter before action
 Sending letter before action to the debtor and updating you
 Sending response letter to you or updating you where no response has
been received
 Dealing with payment collection (where payment has been made by
the debtor)
Timescale
In order to recover a debt, a letter before action is issued to the debtor giving
the debtor up to 30 days or the specified time in the pre -action protocol to
make payment. If payment is not made within the specified time, the next
step will be to issue court proceedings.
(B) Court Proceedings
Our work will usually include the following:
 Taking instructions, advising you and requesting for supporting
documents
 Preparing the claim form and particulars of claim
 Issuing claim in court and updating you
 Dealing with response received from the defendant and where no
response is received, dealing with application for judgement in default
 Dealing with payments received (if applicable)
Timescale
Where the claim is not contested, court proceedings could take up to 3
months but may take longer depending on the schedule of the court. Where
a claim is contested, court proceedings could take between 3 to 12 months
or longer for more complex cases.
(C) Statutory Demand
Our work will usually include the following:
 Taking instructions, advising you and requesting for supporting
documents
 Preparing the Statutory Demand
 Arranging for service of the Statutory Demand
 Updating you on the response or non-response
 Dealing with payment received (if applicable)
Timescale
Statutory Demand is a notice given to a debtor to pay an outstanding debt
before bankruptcy or winding up petition is filed. In the case of individuals,
the debtor is given 18 days to respond and in the case of a company being
the debtor, the company is given a specified time to respond. Once the
specified time given has elapsed and payment is not received, the next step
will be to file a petition in court.
(D) Winding Up/Bankruptcy Petition
Our work will usually include the following:
 Taking instructions, advising you and requesting for supporting
documents
 Carrying out relevant searches
 Preparation of Petition/Witness Statement
 Issuing Petition in the appropriate Court and updating you
 Arranging for personal service of petition
 Filing certificate of service in court
 Advertising petition in the London Gazette
 Instructing a barrister to attend the court hearing to represent you
 Preparing and filing a certificate of compliance for a winding-up
petition or a certificate of continuing debt for a bankruptcy petition
 Preparing and filing list/notice of appearance
 Dealing with payment received (if applicable)
Timescale
Once a petition is issued in court, the matter will be heard between within 3
months.
ADDITIONAL COSTS
We will keep you fully informed where you are required to pay additional
costs due to the complex nature of the debt matter or work to be carried out.
Please note that in addition to the fees quote above, there will be additional
charges for the following:
 If the debt is over £100,000
 If the claim or debt matter is disputed
 If you are the defendant wanting to defend a claim
 Advising on/taking enforcement action
 Correspondence regarding settlement arrangement with the defendant
 Correspondence regarding payment arrangement with the defendant
 Debtor is outside England/Wales
 Difficulty serving the defendant with claim or correspondence
Do note the above is not an exhaustive list. However, we would always keep
you fully informed where the transaction would attract any increase in the
fees.
SOLICITOR RESPONSIBLE FOR YOUR CASE
Your matter will be handled by the Principal Solicitor who has been a
practising solicitor for 17 years. In addition, we also have paralegals who
carry out routine work on case files under the supervision of the Principal
Solicitor.