Our costs for dealing with the recovery of a debt under £100,000 owed to a business would be based on a time recording basis and our typical price for this is between £250 and £750 plus VAT which is added at the rate of 20% to give a total for our charges of between £300 and £900. A matter that is concluded quickly, perhaps after the first contact with the debtor will incur a fee at the lower end of the range, and a matter that involves more protracted correspondence or negotiation will attract a higher fee.
Disbursements are expenses related to your transaction which are payable to third parties, such as Court fees. These will be the same regardless of which legal firm handles your matter. We arrange payment of these expenses on your behalf.
There are no anticipated disbursements at this stage, however should the case proceed to court there would be Court fee payable. We would provide you with full details of likely costs at the appropriate time.
Our fee includes:
- Taking your instructions and reviewing documentation
- Drafting an initial letter to the debtor and agreeing this with you
- Further correspondence and negotiation with the debtor if necessary
- Receiving payment and sending on to you
If the debt is not paid at this stage, and you wish to pursue it, we will need to draft and issue a claim in court. We will provide you with full advice on next steps and all likely costs at this time.