Insolvency and Debt Claims
We offer business clients a fixed price debt recovery service for undisputed debts of up to £100,000 owed by one business to another business.
|Number of invoices||Our fee|
|1||£550 plus VAT (plus Court fee as below)|
|2 to 5||£575 plus VAT (plus Court fee as below)|
|6 to 10||£600 plus VAT (plus Court fee as below)|
|More than 10||£625 plus VAT (plus Court fee as below)|
|Claim amount:||Court fee:|
|Up to £300||£35|
|£300.01 to £500||£50|
|£500.01 to £1,000||£70|
|£1,000.01 to £1,500||£80|
|£1,500.01 to £3,000||£115|
|£3,000.01 to £5,000||£205|
|£5,000.01 to £10,000||£455|
|£10,000.01 to £200,000||4.5% of the claim|
Our fixed price includes:
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a Letter of Claim
- Recovering payment and sending on to you, or if the debt is not paid, drafting and issuing a Money Claim Online
- Where no Acknowledgement of Service or Defence is received, applying to the Court to request a Judgment in default
- When Judgment in default is received, writing to the debtor to request payment
- If payment is not received, providing you with advice on next steps and likely costs
Matters usually take about 7 weeks from receipt of instructions to obtaining Judgment in default.
If enforcement action is needed, the matter will take longer to resolve and at additional cost. Should a Defence be filed in response to the claim, this will also result in the matter taking longer to resolve and at additional cost.
Our fixed price does not include:
- Any work or expenses involved in pursuing the claim should it be or become disputed by the debtor
- Correspondence with you and the debtor to deal with queries or negotiating payment terms
- If the debt is not disputed and is unpaid after the Letter of Claim then we may advise that in the case of a debtor company, a Winding Up Petition is issued instead of issuing a claim. In these circumstances our fee for the Letter of Claim will be between £250 plus VAT and £350 plus VAT depending on the number of invoices and we shall provide an estimate of costs for the Winding Up.
Payment is required in full at the time of receiving your instructions and can be made by debit/credit card or by cheque.
This offer only applies to clients who are operate as a business and are owed a debt up to the value of £100,000 by another business which does not dispute that such debt is owed. Court fees above are correct as stated as at May 2021. If the debt remains unpaid after a Court Judgment is given, any enforcement proceedings to recover such debt are not included in this fixed fee service. You must inform us when you instruct us if you would like to take advantage of this service. Payment in full is required in advance. We reserve the right to decline to accept instructions in our absolute discretion.