Lockings Solicitors

Commercial Debt Recovery Costs and Services

These costs will apply to circumstances where you wish to seek recovery of a commercial debt or unpaid invoice.

These costs are illustrative, and the exact cost will depend on the individual circumstances of the matter.

These costs are also based on matters which are not disputed by the other party and enforcement of the Court Judgment not needed.

If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary.

Debt Value Initial Instructions and issue of letter of claim

(Stage A)

Advising on response to Letter of claim

 

(Stage B

Issue of proceedings and seeking Default Judgment

(Stage C)

Court fee
 up to £4,999 £200 £300 to £500 £350 to £750 £35 to £205
£5,000 and £9,999 £200 £500 to £750 £500 to £900 £455
£10,000 and £25,000 £200 to £300 £1,000 to £2,000 £850 to £1,000 £500 to £1250
£25,001 and £50,000 £300 to £800 £1,000 to £3,000 £2,000 to £3,000 £1250 to £2500
£50,0001 and £200,000 £300 to £900 £2,000 to £5,000 £2,500 to £4,000 £2500 to £10000

 

VAT, currently 20% will be added to our fees as set out above but not the Court fee.

These fees are based on our charging rates of between £126 and £270 per hour plus VAT.

The work will be carried out by Sarah Thomsen and Ben Naylor.

Please note that:

  • The VAT element of our fee cannot be reclaimed from the debtor if you are VAT registered.
  • Interest and compensation may take the debt into a higher banding, with a higher cost.

Our fees include:

Stage A

  • Taking your instructions and reviewing documentation (invoices)
  • Undertaking appropriate searches
  • Sending a letter before action
  • Receiving payment and sending onto you

Stage B

  • Advising you on any response received to the letter before action and issuing an appropriate reply if so advised.
  • Engaging in communication with the other party where necessary.

Stage C

  • If the debt is not paid, drafting and issuing a claim
  • Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgement in default
  • When Judgement in default in received, writing to the other party to request payment
  • If payment is not received within 28 days, providing you with advice on next steps and likely costs

Our fees listed above do not include:

  • Reviewing a significant amount of documents
  • Drafting schedules for the amounts in dispute
  • Enforcement action of the Judgment to collect your debt
  • Dealing with a claim which is disputed pre action or defended after proceedings are issued
  • Participating in alternative dispute resolution or mediation on your behalf
  • Instructing an expert or barrister

In the above circumstances, we will discuss what further work required and provide you with revised advice about costs.

Potential Additional Expenses

In complex matters we may recommend that a barrister is instructed to advise on your prospects of success or to draft the necessary court proceedings for issue. We will advise you and seek your approval of such fees before they are incurred

How Long Will This Take?

Matters usually take 4 to 16 weeks from receipt of instructions from you to receipt of payment from the other side, depending on whether or not it is necessary to issue a claim and how long the court take to process each step of the proceedings.

This is on the basis that the other side pays within 28 days of receipt of a Judgement in default. If enforcement action is needed, the matter will take longer to resolve.

If the debtor is a sole trader or individual this process may take 4- 6 weeks longer in order to comply with the Pre Action-Protocol for Debt Claims.

 

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Accreditations

If you are a customer of Lockings Solicitors and we have contracted with you online you may be entitled to use the EU Online Dispute Resolution (ODR) Platform to assist in resolving any dispute with us. This service can be found at https://ec.europa.eu/odr.

Our email address is welcome@lockings.co.uk

Lockings Solicitors is a trading name of Lockings Legal Services Limited registered in England and Wales company registration number 09244568. Lockings Legal Services Limited is authorised and regulated by the Solicitors Regulation Authority (Main Office SRA ID number 626081). A list of our directors is available for inspection at all our offices. Use the following link https://www.sra.org.uk/solicitors/standards-regulations/
for
online access to the current professional rules applicable to solicitors. All calls are recorded for training and quality purposes.

The content on this website is for information only and is not intended to provide specific legal advice to a particular case. Should you require legal advice in relation to your particular situation then please do not hesitate to contact us.

VAT Number: 282 2447 58

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