INCLUDED WORK & KEY STAGES

The exact nature and steps in the debt recovery process can differ based on specific circumstances. Typically, they encompass:

1. Initial consultation and document review
2. Conducting relevant searches
3. Dispatching a letter before action
4. Receiving and processing payments, or drafting and issuing claims if debts remain unpaid
5. For undisputed claims, applying to court for a default judgment
6. Once the judgment is obtained, requesting the other party for payment
7. If no payment is made within 14 days, advising on subsequent steps and associated costs

EXCLUSIONS

Please be aware that our fees, as presented, exclude:

- Disputed or defended cases, which would be billed at an hourly rate of £240.00, inclusive of VAT. If our Debt Recovery team requires assistance from the Commercial Litigation department, rates may vary depending on the level of expertise required. All changes would be discussed and agreed upon with you.

- Barrister's fees may be necessary, especially if preparation is needed for an enforcement hearing. Typically, these fees hover around £1200 (inclusive of VAT), but any such fees would be discussed and approved by you in advance.

FACTORS AFFECTING COSTS

In specific scenarios, fees may need adjustment based on:

- Escalation of the debt value due to compensation and interest

- Requirement of enforcement actions, like employing a bailiff

- Need for an enforcement hearing, possibly involving a barrister

Introduction:

Our firm specialises in debt recovery, offering tailored solutions for both individuals and businesses. We pride ourselves on transparency and aim to give our clients a clear understanding of potential costs involved.

Our services are tailored to the client for which reason we charge on an hourly rate basis for all debt recovery work.

Our Fees:

Hourly Rates:

Our fees are charged based on the seniority of the person dealing. Most straightforward case will be dealt with by a Grade D fee earner and more complex cases by a Grade B or A. All hourly rates listed below are exclusive of VAT.

- Grade A (Partners with over 8 years' experience): £255 per hour

- Grade B (Solicitors and Legal Executives with over 4 years' experience): £218 per hour

- Grade C (Other Solicitors and Legal Executives): £177 per hour

- Grade D (Trainee Solicitors, Paralegals, and Other Staff): £126 per hour

Estimated Costs:

Our fees are determined by the time spent on your matter. The total will vary depending on each case's complexity and specifics. As a general guideline:

- Pre-Action Protocol Compliance & Letter Before Action: Typically, 1-3 hours.

- Issuing Claim: Generally, 2-5 hours.

- Entering Judgment in Default: Usually 1-2 hours.

- Enforcement Proceedings (if required): Duration and costs vary based on the chosen method.

Disbursements:

These are costs related to your matter, payable to third parties such the court, barristers, experts etc:

- Court Fees: Depending on the claim's value.

Third-party Disbursements:

- Trace: £60.00

- Trace and Asset Search: £330.00

- Process Serving (Non urgent): £102.00

- Sworn Affidavit: £18.00

- HM Land Registry registration fee: £24.00

- HM Land Registry Office Copies fee: £7.20

- **Advocate/Barrister's Fees**: Typically, £250 to £750 for a hearing for hearings for cases below £10,000. This is dependent on complexity of the case. This is excluding VAT

Additional disbursements may arise, and we will ensure you are informed about them as and when necessary.

Depending on the value of your claim, you may not be able to recover all disbursements, even if you win.

Recoverable Costs:

You may not be able to recover the full costs paid to us from your opponent. This is because debts claim up to £10,000 and those allocated to the small claims track are only allow fixed costs to be recovered. Fixed costs may apply to claims with a value of more than £10,000.00. You may pay for than you can recover.

If the claim is not allocated to the fast track, you might only be able to recover disbursements, not full costs.

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.

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 X days, providing you with advice on next steps and likely costs

Matters usually take 8-12 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.

What's Included:

- Compliance with pre-action protocol.

- Issuing and progressing a claim through the County Court Business Centre for claims under £10,000.

- Entering a judgment in default if there is no response from the debtor.

- Discussing potential enforcement actions if the debtor does not pay.

What's Not Included:

- Defending counterclaims.

- Advanced negotiations or alternative dispute resolution methods.

- Pursuing the debt outside our jurisdiction.

- Additional enforcement actions beyond the mentioned.

Duration:

Debt recovery typically ranges from a few weeks to several months, depending on the specifics of the case, the court dealing and any defences or counter claims.

VAT and Recovery:

- All mentioned costs are exclusive of VAT.

- VAT is charged on our costs, not on fees. While VAT is not recoverable from the debtor, if you are VAT registered, you can reclaim it (unless you operate under the VAT Flat Rate Scheme, in which case different rules might apply).