Debt Recovery
Withheld payments can be a real problem, starving many small and medium sized businesses of vital cashflow that is the lifeblood of their business.
With many debt collection services, day-to-day recovery is handled by junior or unqualified staff. All too often, that means that mistakes are made, which will cost you valuable time and money.
We recognise the importance of effective debt recovery to our clients. We offer a fixed-fee debt recovery service, and our highly skilled and experienced team works with organisations large and small, using a debt collection system that makes the process swift and efficient
Collection of undisputed debts
Where debts are disputed and legal proceedings are fought, the cost and risk can be substantial. We will provide you with the best information possible about costs in such cases.
With undisputed claims, the debt collection process will usually commence with a letter of claim, as required by the relevant court protocol.
Our fixed fees for debt collection matters are:
- Initial letter of claim
- Claim up to the value of £500 = £25.00 + VAT
- Claim of a value between £500 and £1,000 = £50.00 + VAT
- Claim of a value between £1,000 and £10,000 = £100.00 + VAT
- Claim of a value above £10,000 = £250.00 + VAT
- Issuing County Court claim:
- Claim of a value up to £500 = £75 + VAT
- Claim of a value between £500 and £1,000 = £95 + VAT
- Claim of a value between £1,000 and £10,000 = £130 + VAT
- Claim of a value above £10,000 = £250 + VAT
Should the matter become defended after a claim is issued, our hourly rates will apply to all further work carried out on your behalf.
Further details about court fees can be found on www.gov.uk/court-fees-what-they-are.
If a debtor does not respond to the proceedings then you will obtain a judgment which can be enforced.
- Obtain default judgment:
- Claim of a value below £1,000 = £50 + VAT
- Claim of a value above £1,000 = £100 + VAT
The overall cost of a debt recovery case where the debtor does not pay the debt (even when judgment has been obtained) depends on the amount of work done to enforce the judgment. There are various different enforcement processes that may be effective. We will advise you about the procedures and the related costs for these elements as appropriate.
The earlier a debt is passed to us, the earlier we can collect it on your behalf, which means it will be working for you, not your creditors.
For more information, or to discuss an unpaid debt, please contact us on 01937 547000 or email james@hartlaw.co.uk
