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Debt Recovery for Businesses

With a focus on transparency and communication, we keep our clients informed throughout the debt recovery for businesses process, providing regular updates and guidance. Whether you are a small business or a large corporation, our team is dedicated to helping you recover outstanding debts and improve your cash flow.  We provide a cost saving alternative to services provided by solicitors and barristers.

British Pound Notes

The fees quoted below are for undefended simple debt matters. 
Should a debt be disputed the civil hourly and fixed fees apply 
here.
We will discuss best funding options with you before any work is commenced.   
 

Stage 1
Letter Before Action
Fee - £20 - £35

 

A Letter Before Action (LBA) is a formal request for settlement of a debt. 

 

The LBA provides notice of the amount owed to your business.  The party who owes you the money is a debtor.  The LBA  provides a set time period – usually 7 days – in which to pay.

 

It is essential requirement that an LBA is sent before issuing any legal proceedings, otherwise, you may end upheaving your costs forfeited.

If the debtor is a sole trader (or individual), you must adhere to the Pre Action Protocol for Debt Claims and are no longer able to send a standard Letter Before Action. Information on protocols can be found here.
 

Stage 2
Issuing the claim
Fee - £125

A failure by the Debtor to respond to your LBA will lead to us contacting them by telephone to attempt to engage them and to warn them directly that the next stage will be to issue legal proceedings.

 

If they do not engage with us on the telephone the next stage in the legal process is to issue a claim form requiring them to pay the debt, plus interest and costs within 14 days.  If the Late Payment of Commercial Debts (Interest) Act 1998 applies, compensation of £40 – £100 per invoice will also be added to the value of the claim.

Stage 3
Obtaining Judgment 'CCJ'

Fee - Undefended
£50.00
 


 

A County Court Judgment (CCJ) is a Court Order against a debtor who has failed to pay their debt to you i.e a default on payment. It is a legal document that gives you the power to enforce recovery of the money that is owed to you.

 

The CCJ is also recorded against the debtor’s credit record affecting their ability to obtain credit.

Enforcement
Fees - £75 - £150

There are various enforcement methods available, more information can be found here.

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