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Business to Business Debt Recovery
It is a sad fact of life that that not all companies pay their debts on time. Occasionally it’s necessary to take action to recover to recover an unpaid debt and when that happens our business debt recovery team are here to help.
Our team has over thirty years of collective experience in delivering high quality work in all matters relating to money claims. There are few areas of the law that the team has not dealt with before.
Debt recovery work will generally be undertaken by Dominic Cassidy, Partner .
Dominic Cassidy – Partner
Partner Dominic Cassidy qualified as a solicitor in 1989. Dominic specialises in Commercial and Civil litigation, including debt recovery, personal injury and private client probate work. Dominic is an experienced lawyer and is able to assist with the recovery of debts large and small.
Our Fees
Business to Business Debt Recovery work is generally undertaken on a fixed fee basis. The following information is provided to assist you in understanding how our fees are calculated. The prices provided are indicative of the likely cost of a case and should not be taken as an absolute quote. You must still contact us to obtain a detailed quote which takes into account the individual circumstances of your case.
Court Claims
These costs apply where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed. If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary, which could be on a fixed fee (e.g. if a one off letter is required), or an hourly rate if more extensive work is needed.
| Debt value | Court fee | Our fee (incl. VAT) | Total |
|---|---|---|---|
| Up to £5,000 | £205.00 (max.) | £600.00 | £805.00 |
| £5,001 – £10,000 | £455.00 (max) | £1,200.00 | £1,655.00 |
| £10,001 – £50,000 | 5% value of the claim | 12% of the value of the claim | 17% of the value of the claim |
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fee cannot be reclaimed from your debtor.
- Interest and compensation may take the debt into a higher banding, with a higher cost.
- The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.
In the event of an uncontested claim or a claim under £10,000 you will not ordinarily be able to add the legal fees that you incur onto your claim and will be limited to fixed costs only.
Our fee includes:
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a letter before action
- Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing claim
- Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgement in default
- When Judgement in default in received, write to the other side to request payment
- If payment is not received within 7 days, providing you with advice on next steps and likely costs
Matters usually take 8-10 weeks from receipt of instructions from you to receipt of payment from the other side, depending on whether or not it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of Judgement in default. If enforcement action is needed, the matter will take longer to resolve.
