Debt Recovery for Businesses: recover unpaid debts

We act for businesses and individuals seeking to recover unpaid debts in a variety of matters, from simple undisputed debts to more complicated contested debts. We always aim to maximise recovery by implementing a robust and strategic plan from the outset.

Why Us

We have an experienced team with a detailed understanding of debt recovery law who can provide pragmatic and commercial debt recovery advice to maximise the cashflow and profitability of your business.

Pricing

We know how important cost is when deciding who to use for debt recovery work, so we review our fees on a regular basis, taking into account clients’ feedback, so we can make sure we always offer great value.

We set out below our estimate of the costs and works included for the recovery of an unpaid debt which is both undisputed and disputed up to the value of £100,000.

Please see our terms and conditions of business with regard to our hourly rates (please note that our fees are subject to VAT at 20%).

Debt recovery matters can vary greatly and consequently the figures below are indicative only. A more detailed estimate will be provided to you upon meeting with you to take your instructions and upon reviewing any documentary evidence in support of your case.

Undisputed Debt Costs

Where your claim is in relation to an unpaid invoice which is not disputed, our fees will range from £1,500 – £3,750 plus VAT ( £1,800 – £4,500) depending on the value of the debt up to £100,000 based on our hourly rates outlined below for the following work:

  • Taking your instructions.
  • Considering the evidence.
  • Providing advice.
  • Sending a letter of claim.
  • Preparing and issuing Court proceedings.
  • Requesting Judgment in default, where necessary.
  • Receiving payment and sending it to you.
  • This does not include Court fees which are set out below.

Disputed Debt Costs

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 required), or an hourly rate if more extensive work is needed. Please see our terms and conditions of business with regard to our hourly rates. Our fee will depend upon the nature, complexity and value of your claim. We have provided a range of fees below which is on the assumption that the case is defended and proceeds all the way to trial. We would be happy to discuss your case and prepare a tailored quote for you.

Debt ValueCourt FeeOur Fee
Up to £5,000£35 to £205 (dependent on claim value)£1,500 to £3,500 plus VAT (£1,800 to £4,200)
£5,001 to £10,000£455£2,000 to £4,750 plus VAT (£2,400 to £5,700)
£10,001 to £50,0005% of claim value£6,500 to £14,000 plus VAT (£7,800 to £16,800)
£50,001 to £100,0005% of claim value£15,000 to £30,000 plus VAT (£18,000 to £36,000)

The above work would usually encompass the following:

  • Taking your instructions.
  • Considering evidence.
  • Providing advice.
  • Sending a letter before claim.
  • Preparing and issuing Court proceedings.
  • Considering any defence and counterclaim.
  • Drafting a reply to defence and counterclaim.
  • Instructing counsel where appropriate.
  • Negotiating with the other side on a without prejudice basis.
  • Complying with all court directions and orders up to trial.
  • Seeking a judgment for the unpaid debt from the court.

Please note this does not include disbursements, including Court fees, counsel’s fees or work in relation to enforcing judgments obtained. A detailed breakdown of court fees can be found here.

Our debt recovery standard hourly rates are as follows:

Partner – £295 plus VAT (£354)

Associate – £260 plus VAT (£312)

Solicitor – £230 plus VAT (£276)

Trainee Solicitor – £144 plus VAT (£172.80)

Paralegal – £130 plus VAT (£156)

Conditional fee agreements are considered on a case-by-case basis. We will assess the viability of a case before agreeing to accept it. This assessment will likely take between one and four weeks. If we proceed with the claim on a conditional fee basis, you will need to pay the success fees out of any successfully recovered damages. Our fees will be set out in a client care and litigation costs funding letter that will fully particularise the terms of our retainer and fees involved.

Fees will not include

Disbursements are charged for separately to the above estimates provided for our fees.

Disbursements

Disbursements are costs related to your matter that are payable to third parties. We handle the payment of some of the disbursements on your behalf to ensure a smoother process. 

Timescales

Undisputed debt claims usually take around 6-14 weeks to resolve, if they are not subject to enforcement action.  For a disputed debt action, it can take up to 9 months-1.5 years to resolve the dispute, if they are not subject to enforcement action. 

Contact Us

020 3440 8000|enquiries@tvedwards.com|Our Offices

020 3440 8000
enquiries@tvedwards.com
Our Offices
Contact Us