Overview
Credit control is essential to any business. We are regularly instructed to advise businesses and individuals to recover debt.
Many businesses have a reluctance to pursue debt for fear of losing a valued customer. However bad debt creates cash flow difficulties and can lead to insolvency.
Crucial to any successful debt recovery is knowledge of the enforcement procedures open to our clients. We will advise on the most appropriate method of enforcement available.
Where the circumstances justify it, we will advise on compulsory liquidation of a limited company or bankruptcy of an individual.
Fees
If instructed to recover an unpaid invoice by way of County Court Claim which is not disputed, and which is less than £100,000, we will limit our costs to the following:
Invoice Value; up to £5,000, £200 plus VAT,
Invoice Value; more than £5,000 up to £15,000, £350 plus VAT,
Invoice Value; more than £15,000 up to £100,000, £700 plus VAT.
To the above you must add the Court fee. The Court fee appropriate to your claim is based upon the amount of your invoice and can be found at; https://www.gov.uk/make-court-claim-for-money/court-fees.
Our Fees will cover;
Taking your instructions,
Sending letter of claim to Debtor,
If no payment is made, drafting and issuing the claim,
Applying for Default Judgment.
Work on your matter will be carried out by Stuart Ward who qualified as a solicitor in 1993 and/or Craig Athorn who qualified in September 2017. All work is supervised by Stuart Ward.
Assuming a Debtor takes no steps in responding to a letter of claim and service of proceedings, time to obtaining judgment will usually be 5 to 8 weeks from the date of the letter of claim. Any additional work will be charged at our hourly rate. Stuart’s hourly rate is £195 plus VAT and Craig’s hourly rate is £145 plus VAT. Additional work could include; advising you on the appropriate method of enforcement of judgment, action to enforce judgment and negotiations with the Debtor.
If at any time the recovery of an unpaid invoice becomes contested, we will charge you at our ordinary hourly rate or, if your invoice falls within the Small Claims Track, we are prepared to agree a fixed fee with you up to and including trial.
Complaints
We want to give you the best possible service. However, if at any point you become unhappy or concerned about the service we have provided then you should inform us immediately, so that we can do our best to resolve the problem. If you would like to make a formal complaint, then you can read our full complaints procedure here.