Debt recovery

If you or your business are owed debts, we are able to help you recover that debt.

Equally, we are able to assist individuals and businesses who find themselves in the unfortunate position of having to defend a debt recovery claim.

For expert professional help on all aspects of debt recovery, please call L.A.M Solicitors on 01621 856683 or email us at leanne@lamsolicitors.com.

Price & service information for debt recovery

As part of our debt recovery service, and in accordance with the Transparency Rules prescribed by the Solicitor’s Regulation Authority, set out below is the price and service information for the recovery of debts.

Services

As part of our debt recovery service, and in accordance with the Transparency Rules prescribed by the Solicitor’s Regulation Authority, set out below is the price and service information for the recovery of debts.

By instructing L.A.M Solicitors to deal with your debt recovery case, the matter will be handled by Leanne Allcock-Mead.

Having qualified as a solicitor in 2002 and becoming an award-winning dispute resolution lawyer, Leanne has a number of years experience in litigating and resolving a wide range of civil and commercial disputes, including debt recovery matters, and has advised at all stages of these types of claim, including issue and enforcement.

At L.A.M Solicitors, in accordance with our professional and statutory obligations, we will undertake to:

  • Provide you with a dedicated and experienced solicitor to work on your debt recovery matter.
  • Discuss your circumstances in detail.
  • Take your initial instructions and review the documentation.
  • Confirm the most appropriate way to bring or defend a claim, and any other options that may be available to you.
  • Give you advice on the merits of your case or defence.
  • If you do not currently have a strong case or defence, whether this can be overcome and how.
  • Consider any supporting evidence you provide.
  • Where necessary, help you to obtain further evidence, such as statements from any witnesses or other documentary evidence in support, etc.
  •  Undertake appropriate searches on your behalf.

  •  Send a letter before action.

  •  Receive payment and send it onto you, or if the debt is not paid, draft and issue a claim on your behalf.

  •  Where no Acknowledgement of Service or Defence is received, apply 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, provide you with advice on your next steps and likely costs.

    UNDISPUTED DEBT CLAIMS

    Fixed costs

    The following costs apply where your claim is in relation to an unpaid invoice that 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. Such costs could be on a fixed fee, for example, if a one-off letter is required, or an hourly rate where more extensive work is needed. 

Stage 1

  • Take your initial instructions and review the documentation.
  • Confirm the most appropriate way to bring or defend a claim, and any other options that may be available to you.
  • Give you advice on the merits of your case or defence
  • Draft a letter before action or response to a letter before action (if defending a debt claim)

£150.00 plus VAT

STAGE 2 

• Drafting and issuing the claim form;

£200.00 plus vat. 

Court Fees for Issuing a Claim

Court fees for sums from £1 to £9,999 are set on a scale, which is dependent on the level of the claim. For claims exceeding £10,000 court fees are set at 5% of the total amount claimed, including interest. 

 

  Depending on the size and nature of the claim further court fees may be payable. For further information please see: 

https://www.gov.uk/make-court-claim-for-money/court-fees

 

STAGE 3

• Applying for Judgement in default;
• or advising on a defence

£200.00 plus vat. 

STAGE 4 

• Advice on enforcement options, if required:

£150.00 plus vat.

Where a fixed fee is applied, anyone wishing to proceed with a claim should note that:

• The VAT element of our fee cannot be reclaimed from your debtor.

• The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.

You should note that for all new clients of the firm, we will conduct an electronic ID search for anti-money laundering compliance. The administrative fees for arranging these checks is £15 plus VAT.

 

Average timescale for Undisputed Debt Claims

The time that it takes from taking your initial instructions, to the final resolution of your matter, depends largely on the stage at which your case is resolved.

If a settlement is reached during the initial stages, your case is likely to take between 4 to 6 weeks. If your claim proceeds to default and enforcement action is needed, the matter will take longer to resolve.

DISPUTED DEBT CLAIMS

 

Average fee

Our fees for bringing and defending disputed debt claims are as follows:

• Simple case: £500-£1000 (plus VAT)
• Medium complexity case: £2000-£5,000 (plus VAT)
• High complexity case: £6,000-£25,000 (plus VAT)

On average, costs are between £1,000 and £2000 excluding VAT.

Please note that the average fees are only an estimate. All claims and defences are likely to vary and, of course, we will give you a more accurate cost estimate once we have additional information about your specific case, and as your matter progresses.

 

Average fee – further information

The exact cost will be dependent upon the individual circumstances of your debt recovery case. There are a number of factors that could make a case more complex including, but not limited to, the following:

• defending claims that are brought by litigants in person
• complex preliminary issues such as whether the claimant is disabled
• dealing with repeated requests for further information
• the number of witness statements and documentation in support
• making or defending a costs application.

Your fee will reflect the overall time spent on your case, so where we spend more time on your matter, your costs will reflect the time spent to provide this service to you.

In some instances, you may wish to handle certain aspects of the debt recovery process yourself (see the list set out under “Services”). This can be arranged based on your individual needs and can reduce the level of the fees charged.

 

Potential disbursements

Disbursements are the costs related to your matter that are payable to third parties, for example, counsel’s fee or a fee for an independent report from an expert such as a surveyor.

We will handle the payment of disbursements on your behalf to ensure a smoother process.

Counsel’s fees are estimated between £2,000-£4,000 plus VAT per day (excluding preparation), depending on the experience of the barrister.

In the event that an expert’s report is required, we will inform you in advance of the cost involved in commissioning a report.

 

Potential additional costs

If we are required to attend a hearing, a fee of between £1000 – £2,000 per day plus VAT will be applicable. Generally we would allow between 1-5 days depending on the complexity of your case.

We always provide clients with a fee estimate at the start of each new matter, therefore if you would like an estimate for your particular case please contact us to discuss further.

If your case involves unexpected complications, we will always let you know, including any additional fees that may apply, so that you can make an informed decision as to how to proceed. 

 

Average timescale for Disputed Debt Claims

The time that it takes from taking your initial instructions, to the final resolution of your matter, depends largely on the stage at which your case is resolved.

If a settlement is reached during the initial stages, your case is likely to take between 4 to 6 weeks. If your claim proceeds, it can takes months to resolve and occasionally a year or more depending on the complexity of the case.

Please note that the anticipated timescale is only an estimate. All claims and defences are likely to vary and, of course, we will give you a more accurate time estimate once we have the necessary information about your specific case, and as your matter progresses.

 

 

Other services

Contact Info

Heybridge Business Centre,
110 The Causeway,
Maldon
Essex
CM9 4ND

Phone number:

01621 856683

Email

leanne@lamsolicitors.com

Business hours

Monday: 9AM - 5PM
Tuesday: 9AM - 5PM
Wednesday: 9AM - 5PM
Thursday: 9AM - 5PM
Friday: 9AM - 5PM
Sat - Sun: CLOSED
Bank Holidays: CLOSED

Leanne Allcock-Mead Solicitors is a limited liability company, registered in England and Wales with registration number 11669444 whose registered office is SF 4 The Heybridge Business Centre, 110 The Causeway, Heybridge, Maldon, Essex CM9 4ND. A list of the Directors of Leanne Allcock-Mead Solicitors is available for inspection at the registered office.

Leanne Allcock-Mead Solicitors is authorised and regulated by the Solicitors Regulation Authority under No. 655649.