Services

Debt Collection

Price Transparency

From 6 December 2018 the Solicitors Regulation Authority required solicitors to publish prices and service information when carrying out debt recovery work.

Our service is bespoke and tailored to your business needs.  We are able to offer our service on a fixed fee or contingency basis.

Our prices are influenced by a number of commercial factors and your requirements.  Our prices can range from as little as £10 + VAT for a Letter of Claim up to 35% of the amount recovered on your behalf.

The following table provides an illustration of our average prices based on a single commercial debt recovery instruction.  Options are shown for either a Fixed Fee or a Contingency Fee. Charges are exclusive of VAT.

Stage 1

Letter of Claim

We will send a Letter of Claim to your debtor chasing unpaid invoices together with interest and compensation (where applicable).

If the Letter of Claim results in a successful recovery we would estimate a timescale of 14 days from receipt of your instructions to cleared payment from the debtor.

Table of costs Option 1 Option 2
Amount Fixed Cost Damages Based Agreement (Contingency)
Range of Debt Letter of Claim % of Amount Recovered Assessment Fee
Up to £500.00 £50.00 25.00% £25.00
£500.01 to £1000 £150.00 25.00% £50.00
£1000.01 to £3000 £250.00 20.00% £50.00
£3000.01 to £5000 £400.00 15.00% £50.00
£5000.01 to £7000 £600.00 OR 12.00% £75.00
£7000.01 to £10,000 £750.00 10.00% £75.00
£10,000.01 to £20,000 £1,000.00 8.00% £100.00
£20,000.01 to £30,000 £1,000.00 7.00% £100.00
£30,000.01 to £40,000 £1,000.00 5.00% £100.00
£40,000.01 to £50,000 £1,250.00 4.00% £100.00
£50,000.01 to £60,000 £1,250.00 4.00% £100.00
£60,000.01 to £70,000 £1,250.00 4.00% £100.00
£70,000.01 to £80,000 £1,500.00 3.50% £100.00
£80,000.01 to £90,000 £1,500.00 3.25% £100.00
£90,000.01 to £100,000 £1,500.00 3.00% £100.00

Stage 2

Issue Court Proceedings & Judgement

If court proceedings are required due to non-payment of the whole debt or part of the debt, we will issue a claim form.  Where possible we will seek to obtain a default judgement against the debtor.

We estimate that the timescale to obtain judgement would be 6 weeks from receipt of instructions.

Again we are able to work either on a Fixed Fee or Contingency basis.

Table of costs Option 1 Option 2
Amount Court Fee* Fixed Cost* Damages Based Agreement (Contingency)
Range of Debt % of Amount Recovered
£25 to £300 £35.00 £100.00 N/A
£300.01 to £500.00 £50.00 £100.00 N/A
£500.01 to £1000 £70.00 £150.00 30.00%
£1000.01 to £1500 £80.00 £200.00 25.00%
£1500.01 to £3000 £115.00 £250.00 20.00%
£3000.01 to £5000 £205.00 PLUS £300.00 OR 17.00%
£5000.01 to £7000 £455.00 £300.00 15.00%
£7000.01 to 10,000 £455.00 £350.00 13.00%
£10,000.01 to £20,000 5% value of Claim £500.00 11.00%
£20,000.01 to £30,000 5% value of Claim £600.00 9.00%
£30,000.01 to £40,000 5% value of Claim £600.00 9.00%
£40,000.01 to £50,000 5% value of Claim £700.00 9.00%
£50,000.01 to £60,000 5% value of Claim £700.00 8.50%
£60,000.01 to £70,000 5% value of Claim £800.00 8.25%
£70,000.01 to £80,000 5% value of Claim £800.00 8.00%
£80,000.01 to £90,000 5% value of Claim £900.00 8.25%
£90,000.01 to £100,000 5% value of Claim £1,000.00 5.00%

 

Who Will Deal With The Matter?

We have a team of recovery professionals who will handle your case. As part of Chadwick Lawrence LLP you can trust in the quality of advice that we provide.

You will be provided with the name and direct contact details for the person who will deal your matter throughout when you instruct us.

Our Debt Recovery Manager is Matt Perry who can be contacted on 0113 225 8811.