PRICING POLICY

Business Debt Recovery Claims up to £100,000

 

These costs assume that the debt is a business debt. The cost illustrations below apply where the 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 a 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.  The cost illustrations will also generally not apply where a claim is complex.

 

All debt recovery claims will be handled by either one of the two directors, their details are set out below:

 

Karl Thompson

Karl is a Director and solicitor at KK Thompson and has over 10 years post qualification experience. He deals with debt recovery claims of a complex nature as part of his case load. Having dealt with many complex claims in recent years he has a strong knowledge base in this area.

 

Kate Thompson

Kate is a Director and solicitor at KK Thompson and has over 10 years post qualification experience. Part of Kate’s case load involves her dealing with high value business to business debt recovery claims. Kate has an extensive knowledge of this area having dealt with a significant number of debt recovery claims during her career.

 

Please click the link https://www.kkthompsonsolicitors.com/who-we-are.html to see profiles of both solicitors who will deal with your debt recovery matter.

Solicitors and hourly rates

 

 

 

 

 

 

 

 

 

All charges save for disbursements are plus VAT which is charged at the rate of 20%

 

The cost guide below applies only in circumstances where your claim is in relation to:-

  1. an unpaid invoice;
  2. which is not disputed (so when the debt is unpaid and unchallenged by the Debtor); and
  3. enforcement action is not needed

 

Pre-Litigation

 

The fees below relate to work prior to the issue of proceedings.

All fees mentioned are net of VAT.

 

What is included?

 

  • Taking your instructions and reviewing the relevant documentation.
  • Investigating the debtor’s legal liability to pay the debt.
  • Investigating the debtor’s ability to pay the debt.
  • Sending a letter before action.
  • Negotiating settlement, receiving payment and reporting the same to you.

 

 

 

 

 

 

 

 

 

 

 

 

 

** It is difficult to provide a fixed fee in each instance. Where an approximate cost has been stated, upon instruction we will provide you with a clear estimate of our costs based upon the case, facts and complexities involved. The approximate cost stated is an indication of what costs you can expect to incur.

 

What is excluded?

 

The fees set out above would not include any further work, such as issuing proceedings at Court, dealing with any defended claim (whether through litigation, negotiation or any alternative means of dispute resolution), any enforcement of a judgment, insolvency proceedings, any ancillary applications (such as an application to strike out or amend), any counter-claim or any appeal.

 

Issuing Proceedings Undisputed Debt Claim

 

Whilst we always endeavour to achieve a successful outcome without the need to issue proceedings, this will not always be possible. The fees below will be incurred, in addition to those mentioned above, in the event that proceedings cannot be avoided. Therefore if our letter before action does not achieve settlement we will advise you as to next steps which could include issuing a claim for the unpaid debt.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All fees quoted are net of VAT

 

** It is difficult to provide a fixed fee in each instance. Where an approximate cost has been stated, upon instruction we will provide you with a clear estimate of our costs based upon the case, facts and complexities involved. The approximate cost stated is an indication of what costs you can expect to incur.

 

What is included?

 

The costs set out above are based upon the claim being undisputed and judgement in default being entered successfully. If the claim is contested, or further additional work is required then we will provide you with a full detailed estimate based on the work entailed.

 

More specifically, our fee for issuing proceedings in an undisputed debt claim include:

 

  • Taking your further instructions and reviewing further documentation
  • Undertaking appropriate searches
  • Drafting and issuing claim
  • Where no Acknowledgment 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 14 days, providing you with advice on next steps and likely costs

 

What is excluded?

 

If it is apparent that items of work fall outside of those stated above, or if the claim becomes disputed at any point, we will discuss further work required and provide you with a revised advice about costs if necessary. This may be a fixed fee (e.g. if a one off letter is required), or an hourly rate (as stated above) if more extensive work is needed.

 

The items below are elements of work which are excluded from the prices we have stated above.

 

  • Any negotiated Settlement in relation to the payment of your outstanding debt.
  • Any discussions with regard to a Payment Plan.
  • Dealing with a contested debt.
  • Any enforcement action that is required.
  • Dealing with Insolvency and Bankruptcy issues.
  • Locating Debtors with unknown whereabouts.
  • Dealing with a Defended Claim.
  • Counter Claims or Set Offs against the unpaid sum.
  • Drafting a Statutory Demand and accompanying Witness Statements and documentation.
  • Our fee excludes Debt Recovery Claims against individuals.
  • Multi party action.
  • Jurisdictional issues.
  • Any other complicated or unexpected issue which may arise from time to time (and which we will duly identify and report)

 

Disbursements

 

Set out below are a list of disbursements you can expect to incur when Issuing Proceedings for an undisputed debt claim.

In addition to our fees additional court charges may be incurred, these are listed below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Court fees do not attract VAT.

 

Court Fees are prescribed by H M Courts & Tribunals Service and are subject to change. Information can be accessed utilising the following link https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/728133/ex50-eng.pdf.

At the time of writing the Court Fees displayed in the table above are accurate.

 

Other potential disbursements

 

Bankruptcy search               £2 per search

Land registry searches        £3 per office copy

 

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.

 

Time Scales

 

It is difficult to predict time scales, since there are many factors which might influence how long a claim might take, but matters might typically take 4 to 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 Judgment in default. If a defence is filed, then it is likely to take between 3 and 12 months up to and including a final hearing. The time taken will depend upon the level of complexity, availability of Court time and the approach of your opponent. If enforcement action is needed, the matter will take longer to resolve.

 

PLEASE NOTE THAT THE FEES SET OUT ABOVE ARE AS AT 1 MARCH 2020.

PLEASE CONTACT US WITH DETAILS OF YOUR PROPOSED INSTRUCTION

FOR AN ESTIMATE OR A QUOTE.

Copyright 2013    Company name

Design : Poplar Services     I     © KK Thompson Solicitors Limited 2020.

All rights reserved. KK Thompson Solicitors is a trading name of KK Thompson Solicitors Limited, a company registered in England and Wales (with registered number 08652340) and is authorised and regulated by the Solicitors Regulation Authority under number 605553. A list of directors is available for inspection at the above address.

KK Thompson Solicitors

Thompson House

46 Glenside

Appley Bridge

Lancashire WN6 9EG

Tel: 0333 011 8626

E-mail: info@kkthompson.com

CONTACT KK THOMPSON

KK Thompson Solicitor in Wigan represents clients in Preston, St. Helens, Warrington, Blackburn, Bolton, Leigh, Widnes, Chorley, Bury, Eccles, Salford, Southport, Ormskirk, Rochdale, Crosby, Bootle, Liverpool and Manchester, and throughout the region, including Lancashire, Cheshire and Merseyside.