Worthingtons Solicitors

Debt Recovery Pricing

 
  • Home »
  • Debt Recovery Pricing

18 August, 2021

Thank you for looking at our debt recovery services.  Debts can arise through various situations and we regularly advise both businesses and individuals alike.

With many years of experience and strong expertise in litigation, both in and out of court, our debt recovery service is fast, efficient and economical.

Why us?

We have an experienced team who can assist you with recovering debts both disputed and undisputed.  We pride ourselves on exceptional customer care skills to ensure that you send the right message whilst simultaneously striving to retain the goodwill of your customers when obliged to recover outstanding payments from them.

We can offer you clear practical advice and will discuss all options available to establish the most appropriate way of dealing with matters.

 Pricing

We appreciate that the fees involved in debt recovery are very important.  We review our fees on a regular basis, taking into consideration our client’s feedback so that we can ensure that we continue to offer a cost-effective debt recovery service.

We offer an initial meeting to discuss your debt recovery options for up to one hour for a fixed fee of £120.00 plus VAT of £24.00 making a total of £144.00.  This includes the writing of one letter should it be necessary.  We also offer a fixed fee of £75.00 plus VAT of £15.00 making a total of £90.00 for up to one hours advice where no further action is required.

Thereafter, should you choose to proceed with our instructions then the following rates will apply:-

  1. £180.00 per hour for attendance and preparation on documents.
  2. £18.00 per letter or email correspondence.
  3. £15.00 per routine letter or email received.

Where there is likely to be any additional cost, we will make sure that you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

There may be factors that lead to an increase in costs, including:-

  • Enforcement of proceedings following the obtaining of a judgment.

Simple example

If we were instructed to pursue a debt recovery on your behalf of £15,000.00, the following steps would apply, and the costs stated are average costs arising:-

  1. Letter of demand – Pre-Action Protocol steps – £300 plus VAT
  2. Drafting and issue of claim – £600 plus VAT
  3. Court fee to issue is presently – £750
  4. Obtaining Judgment in Default – £150 plus VAT
  5. If defended attendance upon Case Management Conference – £800 plus VAT
  6. Pre-trial matters – £1,200 plus VAT
  7. Trial (fast track – 1 day) £2,000 plus VAT
  8. Court fee for trial presently fixed at £545

Totalling for this example – £5,050 plus VAT of £1,010 plus court fees of £1,295

If you are successful in your claim, then it is usual to obtain an order for costs against the unsuccessful party.

Timescales

A typical uncontested debt recovery claim will take between 2 to 12 weeks from instruction, through to judgment.  This very much depends upon whether it is necessary to issue a Claim Form.  Should Enforcement action be required, we will discuss our anticipated fees and the estimated timescales involved.

Key Milestones

With every transaction there are key milestones, which may vary according to individual circumstances.  Our fees charged will reflect the stages that your case progresses through, such as:-

  • Taking your initial instructions and reviewing documentation, once provided.
  • Issuing a letter before action requesting payment from the debtor.
  • Receiving payment and sending this to you.
  • Drafting and issuing a Claim Form to the relevant court if the debt is not paid/or issuing a statutory demand.
  • Applying to the court to enter a Judgment by Default if the debtor fails to respond to court proceedings.

Need legal help?

Call us on (01303) 850206 or press the button below to get started.

Our People

Client Testimonials

“Can I say a big thanks to Worthingtons Solicitors for the very good professional advice you have given me over the last few months. Without it, I don’t think I would have received the satisfactory outcome of my divorce and financial matters.” 

Ian A.

“Worthingtons have handled my case for many years and where most would have given up, they persevered even when it got extremely tough! Their patience transformed a nightmare situation and made it humorous and pleasurable!”

John R.

“I’ve come to rely on Worthingtons for their professional advice with unfailing good humour and compassion. I have no hesitation recommending them for all legal matters and fully intend to retain their services for many years.”

Anon.

For Businesses

logo