Debt Recovery Pricing and information
Brearleys act for both individuals, Partnerships and Companies as far as debt recovery is concerned as well as defending debts that Clients believe are not payable.
This section of our Website purely deals with debt recovery for a business to business debt that is undisputed as required by the Transparency Rules of the Solicitors Regulation Authority.
Our business to business debts were they are undisputed are primarily dealt with by Hayley Walker who is an experienced Solicitor of 8 years experience, but some of these matters are also dealt with by Martin Oliver a Partner of the Firm who qualified as a Solicitor in 1999 as well as Andrew Marsden an experienced Civil Litigator with 33 years of experience.
Sometimes for this type of work we can offer a Conditional Fee Agreement (No Win No Fee) where appropriate and we can also agree to act on a hourly rate basis if that is preferable to our Clients.
Martin Oliver’s current hourly rate for this type of work is £241.00 plus VAT, Hayley Walker’s current hourly rate for this type of work is £180.00 plus VAT and Andrew Marsden’s current hourly rate for this type of work is £175.00 plus VAT.
Most of these types of cases however are dealt with on a fixed fee basis.
For small claims debts, sometimes a letter before action is enough to settle the matter so we offer a fixed fee of £180 plus VAT for just that stage before moving on to issue of proceedings.
We have provided a table below showing costs that apply where the claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed. If the other side disputes your claim at any point, we will discuss with you any further work required and provided you with revised advice about costs if necessary which could mean a further/revised fixed fee, switching the matter to a Conditional Fee Agreement, or switching the matter to an Hourly Rate Agreement if more extensive work is needed.
DEBT VALUE COURT FEE OUR FEE HEARING TOTAL
(inc. VAT) FEE
Greater than £1,000
But no more than £1,500 £80.00 £1440.00 £115.00 £1635.00
Greater than £1,500
But no more than £3,000 £115.00 £1440.00 £170.00 £1725.00
Greater than £3,000
But no more than £5,000 £205.00 £1800.00 £335.00 £2340.00
Greater than £5,000
But no more than £10,000 £455.00 £3000.00 £335.00 £3790.00
Greater than £10,000 5% of the (our fee plus £545-£1090
But no more than £200,000 value of the 5% value
claim of the claim)
As you will note from the table above we have not provided for debts lower than £1,000.00 as it is usually the case that these will be classed as Small Claims Court Debts if the matter has to proceed to Court and therefore from a proportionality point of view it may not be cost effective for us to be involved in pursuing these debts, although we are happy to discuss this with you on an individual basis.
Anyone wishing to proceed with a claim should note that:-
The VAT element of our fee cannot be reclaimed from your debtor;
Interest on compensation may take the debt into a higher banding with a higher cost;
Costs quoted above are not for matters where enforcement action such as Bailiff’s are needed to collect your debt.
Our fee includes:-
Taking your instructions and reviewing documentation;
Undertaking appropriate Searches;
Sending a Letter Before Action;
Receiving payment and sending it on to you, of if the debt is not paid drafting an issuing the Claim;
Where no Acknowledgement of Service or Defence is received applying to the Court to enter Judgement in Default;
Where Judgement in Default is received, writing to the other side to request payment;
If payment is not received within 28 days providing you with advice on next steps and likely cost.
It is very difficult for us to state how long a matter like this will take as if it is simply taking instructions and a Letter of Claim and the other side pay, then this may take three to four weeks for you to receive payment.
If, however Court proceedings are necessary a lot depends on how busy the Court Service is as to how long a case will need to progress through the Court process as if enforcement action is needed, the matter will take much longer to resolve.