Debt Recovery Costs
Our debt recovery solicitors, based in Gloucester, can help you quickly recover outstanding debts while freeing you up to focus on running your business
Fixed fee consultation
We offer a fixed fee initial consultation of £125.00 + VAT for 45 minutes. During this meeting our team will take details of your potential claim and advise on whether it is claim we would take on.
Our debt recovery service includes:
• Taking your instructions and reviewing your documentation
• Undertaking appropriate searches
• Sending the debtor a letter before action
• Receiving payment and sending this to you or, if the debt is not paid, drafting and issuing a claim
• Applying to the Court to enter Judgment in default – where no Acknowledgment of Service or Defence has been received,
• When Judgment in default is received, write to the other side to request payment
• If payment is not received within 14 to 28 days, providing you with advice on the next steps and likely costs
Our costs and court fees
The following costs apply where your claim is in relation to an unpaid invoice which is not disputed and where enforcement action is not needed.
The below costs are exclusive of VAT and any court fees.
|Debt Value||Court Fee||Our Fee||Total|
|Up to £5,000||£35.00 – £205.00||£60.00 – £350.00||£95.00 – £555.00|
|£5,000.01 – £10,000.00||£455.00||£350.00 – £500.00||£805.00 – £955.00|
|£10,000.01 – £50,000.00||4.5-5% value of the claim||£500.00 – £600.00||£950.00 – £3,100.00|
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, which could be on a fixed fee (e.g. if a one off letter is require), or an hourly rate if more extensive work is needed.
Anyone wishing to proceed with a claim should note that:
• The VAT element of our fee cannot be reclaimed from your debtor.
• Interest and compensation may take the debt into a higher banding, with a higher cost.
• The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.
How long will the debt recovery process take?
Matters usually take between 4 – 12 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. This is on the basis that the other side pays promptly on receipt of Judgement in default. If enforcement action is needed, the matter will take longer to resolve.
Why choose Tayntons debt recovery solicitors?
Tayntons’ debt recovery solicitors have a strong track record of successfully securing payment of outstanding debts for businesses in Gloucester, Cheltenham, the Forest of Dean and throughout Gloucestershire.
We offer a fixed fee debt recovery service for simple uncontested debts, helping to ensure that recovering outstanding payments stays cost-effective. For contested debts and other situations where court action is required, we will provide a transparent breakdown of our fees at the outset, allowing you to make an informed decision about how to proceed.
We take pride in offering an efficient, responsive service with fast, clear communication being one of our core strengths. We will ensure that there is always someone available to deal with your questions and any issues that arise and that your options are explained to you in plain English.
At Tayntons, our solicitors are focused on protecting you and your business, ensuring you can run your operation effectively and achieve your commercial objectives.
Get in touch with our debt recovery solicitors
For help recovering a business debt in Gloucester, Cheltenham, the Forest of Dean or anywhere in Gloucestershire, please contact us today by calling 0800 158 4147, emailing us at email@example.com or requesting a call back.