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
| 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- £3,000 Plus VAT |
| Above £100,000 | Please contact us for a tailored quote |
Statutory Demand
| Value of Debt | Legal Fees |
|---|---|
| Up to £100,000 | Average £780 to £1800 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: | £245 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
| Value of Debt | Cost £ |
|---|---|
|
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 | TBC |
| 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:
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:
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:
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:
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:
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 several years. In addition, we also have paralegals and caseworkers who carry out work on case files under the supervision of the Principal Solicitor.
All fees quoted are for guidance purposes only.