Business Debt Recovery Solicitors
Unpaid debts can be harmful to your business and take your focus off your core responsibilities. We can help you by providing professional advice, corresponding with the debtor on your behalf and progressing your case through the courts if required.
We aim to make the process clear and simple for you, so you can carry on with what you do best instead of dealing with the debt. Our specialist team provides expert legal advice in XXX different languages to help clients with a wide variety of legal matters.
How much will I pay for debt recovery advice?
The cost depends on the nature of the debt (or debts) you are owed and a number of other factors.
- Consider instructions and evidence
- Carrying out appropriate searches and checks to identify the debtor
- Draft and send the Letter Before Action to the debtor demanding payment of the debt in full within 14 days
- Fixed Fees:
- Debts of £10,000 and under – £45 plus VAT
- Debts of over £10,000 but under £25,000 – £75 plus VAT
- Debts of over £25,000 – £500,000 – £100 plus VAT
- Draft and issue Court Proceedings
- Request Judgment from the Court if the debtor does not respond to the County Court Claim
- Send the Judgment to the Debtor demanding full payment within 14 days
- Fixed Fees and Court Fees are:
Debt Value Court Fee Our Fee Up to £5,000 Scale between £35-£205 £150.00 plus VAT £5,000.01 – £10,000 £455.00 £175.00 plus VAT £10,000.01 – £200,000 5% value of the claim £200 + 2% of the value of the claim plus VAT £200,000 or above £10,000.00 £250 plus +2% value of the claim plus VAT
- Enforcing payment of the unpaid debt
- Judgement of £600 and under:
- Request Warrant of Control
- Fixed Fee of £25 plus VAT
- Judgment over £600:
- Instruct High Court Enforcement Officer
- Fixed fee: £50 plus VAT
- If there are no goods or money to the value to take but the debtor owns property:
- Application for Charging Order –
- Fixed fee: £50 plus VAT
- Court Application fee for Warrant of Control (County Court enforcement) – £83 for recovery of a sum of money, £130 for recovery of goods.
- Sealing a Writ of Control (High Court Enforcement) £71 Court Fee, £90 Compliance Fee.
- Application for Charging Order if no goods or money to the value – £119.00
- Tracing agents fee – £70 – £100 plus VAT
Who will be dealing with your Debt Claim?
We have a team of experienced Debt Recovery litigators led by Samantha Ibrahim, a Chartered Legal Executive with over 20 years’ litigation experience. Helen Laycock is a Litigation Executive with over 3 years’ litigation experience.
The team is supervised by Richard Helsby MA (Hons) Dip.Law. Richard qualified as a solicitor in 1998 and has many years’ experience of litigation and compensation claims.
- We will acknowledge your instruction within 24 hours and send out the Letter Before Action to the debtor within 7 days.
- LBA – Deadline for Payment: –
- A commercial (business) debtor: 14 days
- An individual (person) debtor: 30 days
- County Court Proceedings: –
- If the debtor fails to file an acknowledgement of service within 14 days of the date of service, Judgment (CCJ) can be requested against the debtor on day 15.
- If the Debtor files an Acknowledgement of Service, they will be entitled to a further 14 days to file their Defence. Judgment can be requested on day 29 after the date of service of court proceedings if no Defence is filed.
- We will always attempt to settle your claim before issuing court proceedings. We will continue to attempt to settle your claim once Court proceedings have been issued.
- The time period for enforcement of the debt from the date that the Warrant of Control/Writ of Control is issued, is typically 8-12 weeks.
Alternatives to issuing a claim at the County Court:
- Bankruptcy Petition to make the debtor bankrupt –
- Official Receiver deposit (refundable if Order not made) £900-£1,250
- Bankruptcy petition fee – £950 to £1,250
- Process servers fee £150 – £250
- Our fees (sole trader or guarantor) – £750 – £1,000.00 plus VAT
- Insolvency Proceedings
- Our fees for Issuing and serving a Statutory Demand – £450 plus VAT
- Our fees for drafting and lodging winding up proceedings – £750- £900 plus VAT
- Court fees £1,880 – if the company is not wound up £1,600 of this is refundable
- Process servers’ fees – £150-£250
- Petition hearing attendance (Agent) £150 – £250 plus VAT
- Bankruptcy Searches – £50 – £150
- Advertisement in London Gazette – £75 – £310
Hourly Rate for disputed matters
If the debtor defends the claim, then any further work will be charges at an hourly rate plus VAT:
- Chartered Legal Executive £255.00 p/hr + VAT
- Litigation Executive £177.00 p/hr + VAT
We will let you know if these charges become applicable and provide you with an estimate as to the overall costs and timescales at that time.Close
How long does debt recovery take?
This too depends on the amount outstanding, as well as the finances and attitude of the debtor. We will look to gain their cooperation in settling the claim quickly and amicably. This could not only benefit you, but also cost them less in the long-term. Avoiding court action could help keep costs down and save time for all parties.
If a case does go to court, it can take as much as 9-18 months to settle. If the debtor fails to pay and court action becomes necessary, we can usually give you an estimate of timescales as well as costs.
How do I get advice for debt recovery?
Call us on 0208 1111 911 or contact us through the website and we’ll discuss your circumstances with you. The call is free and there are no upfront fees. We’ll explain the best course of action and the likely fees to you, before you need to make a decision about instructing us to work with you.