Fees in Respect of Debt Recovery
Thanks for looking at our Debt Recover services. Debts can occur in many ways and we regularly advise and assist businesses and private individuals alike.
Most of our debt recovery instructions come from businesses across various sectors. With many years of experience in litigation both in and out of court, our debt recovery service is fast, efficient, economical and realistic.
We are experienced. We have been in business for over 50 years and can assist you with all aspects of debt proceedings including recovery. – Please see our pricing structure for undisputed debt recovery.
Please contact us to discuss, free of charge, our fee structure for disputed debts. We can offer you clear, practical advice and will discuss all the options available to establish the most appropriate way of dealing with debtors.
We understand that the fees involved in debt recovery are important to you. We review our fees on a regular basis, considering client’s feedback, to ensure we continue to offer a cost effective debt recovery service.
We regularly work on a fixed fee basis, so that from the start you know the fees for your transaction. These costs only apply for unpaid and undisputed payments of invoice(s). if during the process, the matter becomes disputed or enforcement or securing action is required eg; where you need to appoint a Bailiff or obtain a Charging Order we will discuss the change in fees with you and agree a way forward.
We also charge fixed fees for sending an initial letter before action, the value of the fixed fee will depend on the number of instructions we receive from you. Typically, the cost of sending the initial letter can be from £25.00 to £50.00 plus VAT.
The following fixed fees apply to undisputed debt claims where court proceedings are necessary.
DEBT CLAIMED COURT FEE OUR CHARGES (inc VAT)
Up to £5,000 £205.00 £240.00
£5,001 – £10,000 5% of the value of the claim £360.00
£10,001 – £50,000 5% value of claim £500.00
Although our fees are fixed and include items detailed above, there may be factors which would typically increase the cost of the fees. Where there is likely to be any additional cost, we will tell you at the earliest opportunity and give you a clear estimate of those extra costs.
Factors that may lead to an increase in cost include :
- Enforcement proceedings eg;
- Instructing a Bailiff
Typical debt recovery will take between 4 and 6 weeks from instructions through to resolution of the matter with the debtor. This can be quicker or longer depending upon the surrounding circumstances and in particular whether it proves necessary to issue proceedings for recovery and of course the extent to which the debtor and/or his legal advisors co-operate. Subsequently, if Judgement is necessarily obtained then agreement upon payment including if available necessary methods of protecting the debt are necessary then we would discuss with you the fees and costs involved in such application.
So that you can understand what is and is not included we would advise that our fees will include these matters:-
- Taking instructions, advising and reviewing the matter
- Undertaking appropriate protective searches and enquiries
- Corresponding with the debtor
- Resolving (if such comes about) and receipt of payments and advising and remitting sums to you
- Preparing and issuing Court Claim Form
- Entering Judgment in default if such is undefended
- Communicating with the debtor and/or legal advisors seeking payment where Judgment has been obtained
MEETING WITH YOU
We will discuss with you the possible and realistic options that are available to you; much will depend upon both your and the debtors circumstances and these matters will be explained to you both as the legal position and as the realistic method and advisability of pursuing the debt – we at all times will advise you to recognise cost effectivity.
We are for your protection and assistance authorised and regulated by the Solicitors Regulation Authority. Our Law Society Number is 592309. The title of our Firm is Gordon Jones & Company Limited and Gordon Jones & Company is our trading name; our registered office is 137/139 New Road, Rubery, Birmingham, B45 9JR. Our Directors are Denise Watkins and David Joseph Williams. We do not accept service by email or other electronic communication. If our business with you is conducted online and such falls into dispute with you, to seek to resolve the matter. Our email address is email@example.com.
The matters that we have set out above relate to undisputed debts where there is little or no argument that the monies are due. They do not include defended matters nor protective procedures such as bankruptcy, liquidation or securing debts over property – all of which can be quoted for separately.
In addition to debt recovery pricing we can also assist many other areas of law including, freehold and leasehold sales and purchases, commercial property of all types including sales and lettings, lease extensions and freehold purchases, motoring offences, criminal offences, wills and probate, remortgages, children’s matters, divorce and financial remedy, general powers of attorney, lasting powers of attorney both as to property and affairs and health and welfare and applications to the Court of Protection for guardianship orders.