Transparency Rules – Debt recovery (up to £100,000)

If your business is owed money, up to £100,000, from an individual or another business, Williamsons Solicitors can assist you in the recovery of the debt.

If the debt is not disputed, we will charge £190 plus VAT (£228) for:

• Taking your instructions,
• Considering the evidence,
• Providing advice,
• Sending a letter of claim,
• Preparing and issuing Court proceedings,
• Requesting Judgment, where necessary,
• Receiving payment and sending it to you.

This does not include Court fees.

All other work including communications with the debtor, settlement negotiations, repayment plans, and any enforcement action will be charged at £100 per hour plus VAT and any expenses.

If it becomes necessary to issue Court proceedings, for claims up to £10,000 the Court fee ranges between £35 and £455 depending on the amount claimed. More than £10,000 and the fee is 5% of the claim amount. More information can be found at https://www.gov.uk/court-fees-what-they-are.

If the debtor fails to pay what is owed following Judgment, subject to the value of the claim, we usually recommend instructing a High Court Enforcement Officer. There is a fee of £66 to pay. If the debtor does not have the assets against which a recovery can be made, there will be an abandonment fee of around £75 plus VAT.

Claims usually take around 8 weeks to resolve if they are not subject to enforcement action.  

If the debt is disputed, we will advise you what to do next and the likely cost involved. 

If you have any enquires please do not hesitate to contact us.