DEBT RECOVERY FEES
Debt Recovery: (Range of fixed fees) for a business to business debt that is undisputed
These costs apply where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is 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, 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.
Debt Value Our fees Court Fees
up to £5,000 35% of value of claim
£5,001 – £10,000 25% of value of claim
£10,001 – £50,000 10% of value of claim 5% value of claim
Plus VAT and disbursements
Anyone wishing to proceed with a claim should note that:
- Interest and costs 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. Any enforcement steps will attract additional costs, details of which are below.
Enforcement of Judgment
Drafting and serving Statutory Demand – £850
Banking Retention – £1000
Drafting and serving Winding up Petition – £1000
Obtaining Third Party Debt Order – £600
Obtaining Attachment of Earnings – £450
Obtaining Charging Order – £550
Plus VAT & Disbursements for undefended enforcement action
Our Services include :
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a letter before action
- Receiving payment and sending it on to your, or if the debt is not paid, drafting and issue a claim
- Where no Acknowledgement of Service or Defence is received, applying to the court to enter Judgement in default
- When Judgement in default is received, write to the other side to request payment
- If payment is not received within 7 days, (or other date specified by court order) providing you with advice on next steps and likely costs (see above).
How long will it take to receive payment?
Matters usually take 1 to 10 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.
Get in touch
Find out more about how the team at Blackstone can help bring your debt recovery claim to a quick and efficient resolution by getting in touch today.
Call us on 0161 929 021 or complete our online enquiry form and a member of the team will get back to you as soon as possible.