(UP TO £100,000.00)

Our Debt Recovery/Dispute Resolution Team deals with recovery of all sizes of debt. Each claim is considered on its own merits and facts and wherever possible we will fix a fee for dealing with a case or, if possible, cap our fees for each stage of the process.

We believe it is important that clients have as much certainty as possible about how much it will cost for the matter to be pursued including in Court proceedings so that the client can make an informed decision as to whether it is economically viable to pursue the size of debt considering how much it is likely to cost.

Clearly, it is important with smaller debts of less than £10,000.00 to weigh up what legal costs will be incurred because a debt for £10,000.00 may be referred to the Small Claims Track within the County Court where the usual order is that costs (other than Court fees) are not ordered to be paid.

We ensure that a practical commercial and cost-effective approach is adopted to consider what options are available to the client. In addition, we discuss the pros and cons and potential costs of such options to enable the client to decide how to proceed.  This includes considering whether there is any realistic chance of being able to recover the money from the debtor following any Court Judgement obtained in the case.

We adopt a pragmatic, common sense approach in order to provide the right support and advice to our clients when pursuing all levels of debt recovery.

Range of fixed fees for a business to business debt (which is undisputed)

Debts from £2,000 to £5,000

 Net feesVAT @ 20%Total fees
Letter of Claim£190.00£38.00£228.00
Additional chase up correspondence in the absence of a response (simple matter)£60.00£12.00£72.00
Additional chase up correspondence in the absence of a response (complex matter)£90.00£18.00£108.00
Commencement of court proceedings£115.00 or £205.00£23.00 or £41.00£138.00 or £246.00
Entry of default judgment£90.00£18.00£108.00
Reply to defence (simple matter)£190.00£38.00£228.00
Reply to defence (complex matter)£380.00£76.00£456.00
Capped fees up to and including trial£1,500.00£300.00£1,800.00
Dealing with enforcement, advising client and chasing enforcement£190.00£38.00£228.00

Debts from £5,001 to £10,000

 Net feesVAT @ 20%Total fees
Letter of Claim£190.00£38.00£228.00
Additional chase up correspondence in the absence of a response (simple matter)£60.00£12.00£72.00
Additional chase up correspondence in the absence of a response (complex matter)£90.00£18.00£108.00
Prevent/object to Company Strike Off Action with supporting evidence£540.00£108.00£648.00
Commencement of court proceedings£455.00£91.00£546.00
Entry of default judgment£90.00£18.00£108.00
Reply to defence (simple matter)£190.00£38.00£228.00
Reply to defence (complex matter)£380.00£76.00£456.00
Capped fees up to and including trial£1,500.00£300.00£1,800.00
Dealing with enforcement, advising client and chasing enforcement£190.00£38.00£228.00

Debts above £10,000

  • We will agree fixed, capped or staged fees on a case by case basis depending on the facts/complexity of each individual matter.
  • Prevent/object to Company Strike off Action with supporting evidence: £720.00 + VAT at 20% of £144 = £864.00

Other fees regularly incurred

  • Application in existing Court proceedings – £255.00 + VAT at 20% of £51.00 = £306.00 or by consent – £100.00 + VAT @ 20% of £20.00 = £120.00
  • Barristers’ fees – in certain matters we may advise instructing a barrister to represent you at a final hearing. We would advise you in advance of any final hearing if we felt this was the best option.  Barristers’ fees are separate to our fees up to and including trail and we would request payment in advance to be held on account.

Legal fees for court proceedings will be accompanied by a court issue fee and legal fees for work up to and including trial will be accompanied by a hearing fee.  Where an enforcement action is requested further Court fees will be payable.

We reserve the right to vary the above fees depending on the complexity of the matter.  If a variation in our fees is necessary, we will notify you as soon as we are able to.

How long will it take?

Not all debt recovery matters are equal but we estimate a timescale of around 8 – 12 weeks.  There are factors however which can impact upon timescales and these include:

  • The length of time the debtor may take to respond to correspondence;
  • Whether the parties require more time for negotiation;
  • How quickly the Court may process paperwork;
  • Availability of court dates;
  • Whether the parties require more time to deal with certain steps within the proceedings.

Barry Wood – Director/Chartered Legal Executive: Barry is Head of our Personal Dispute Resolution Department.  He was admitted as a Fellow of CILEx (Chartered Institute of Legal Executives) on the 6th August 1986.

Barry specialises in a whole range of civil matters. He has over 40 years’ experience in dealing with many different types of dispute too numerous to list.  His experience also includes drafting of or advising on contractual documents of claims and remedies.

His experience in Court proceedings includes disputes in the County Court, High Court, Court of Appeal and the European Court of Justice.

Please contact Barry on 0191 567 0465 or email: barry.wood@richardreed.co.uk

Barry Wood is supervised by Phil Moir who is a solicitor and Director of the firm.

Phil Moir – Director/Solicitor: Phil is a Director of Richard Reed and he qualified as a Solicitor on the 1st September 2006.

Phil specialises in a whole range of civil matters. He has over 12 years’ experience in dealing with many different types of disputes.

Please contact Phil on 0191 567 0465 or email: phillip.moir@richardreed.co.uk

Phil Moir is supervised by Barry Wood who is a Chartered Legal Executive, Head of Department and Director of the firm.

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