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Services

Debt Recovery Pricing

The bulk of our debt recovery instructions come from businesses across various sectors. With many years of experience and strong expertise in litigation both in and out of court, our debt recovery service is fast, efficient and economical.

Debt Recovery Pricing

Why GL Law?

We have an experienced team who can assist you with recovering both disputed and undisputed debts. We pride ourselves on exceptional customer care skills enabling you to send out the right message and retain the goodwill of your customers whilst recovering outstanding payments.

We can offer you clear, practical advice and will discuss all the options available to establish the most appropriate way of dealing with debtors. We have tried and tested processes in place to ensure we can recover undisputed debts quickly, efficiently and cost-effectively, with transparent fixed fees.

We are proud to hold Lexcel Accreditation, issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain high levels of client care.

Pricing

We appreciate that the fees involved in debt recovery are important to you. We review our fees on a regular basis, considering client’s feedback, to ensure we continue to offer a cost-effective debt recovery service.

We typically work on a fixed fee basis, so that from the outset you know what the fees will be for your transaction. These costs apply where your claim is in relation to an unpaid invoice from a business which is not disputed and where enforcement action is not needed. The fee covers an initial claim letter, issuing proceedings and entering judgment.

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. This could be on a fixed fee basis (e.g. if a one-off letter is required), or at an hourly rate where more extensive work is needed.

 

Debt Value

Court Fee

Our Fee (incl. VAT)

Total Fee

Up to £300

£35

£360

£395

£301 – £1000

£50

£360

£410

£1001 – £1500

£80

£360

£440

£1501 – £3000

£115

£360

£475

£3001 – £5000

£205

£360

£565

£5001 – £10000

£455

£600

£1055

£10001 – £50000

5% value of the claim

£1200

£1200 plus court fee

£1000 – £1500

£80

£2400

£2400 plus court fee

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

Exclusions

Our fees are fixed and include the items detailed below, however there may be factors which would typically increase the cost of the fees. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

  • Enforcement proceedings
  • Instructing a Bailiff
  • Extensive correspondence and discussions with you and/or the debtor

Time scales

A typical debt recovery will take between 2-8 weeks, from instruction through to payment from the other side. This may be quicker or longer depending on whether we are required to issue a claim and whether the other side pay promptly on receipt of any Judgment issued by a court.

As detailed above, if enforcement action is required, we will discuss the fees and timescales involved.

Key milestones

With every transaction there are key milestones, which may vary according to individual circumstances. Our fee will include these milestones and may be as follows:

  • Taking your instructions and reviewing documentation
  • Undertaking appropriate searches
  • Issuing a Letter Before Action requesting payment from the debtor
  • Receiving payment and sending this on to you
  • Drafting and issuing a claim form to the relevant court if the debt is not paid
  • Applying to the court to enter a Judgment in Default if the debtor fails to respond to court proceedings
  • Contacting the other side to request payment where a Judgment in Default has been issued by the court
  • If payment is not received with 14 days, providing you with advice on next steps and likely costs

 

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