Debt Recovery (up to £100,000.00)

DEBT RECOVERY (UP TO £100,000.00)

Debt Recovery/Dispute Resolution

Our Debt Recovery/Dispute Resolution Team deals with recovery of all sizes of debt. Each claim is considered on its own merits and facts and wherever possible we will fix a fee for dealing with a case or, if possible, cap our fees for each stage of the process.

We believe it is important that clients have as much certainty as possible about how much it will cost for the matter to be pursued including in Court proceedings so that the client can make an informed decision as to whether it is economically viable to pursue the size of debt considering how much it is likely to cost.

Clearly, it is important with smaller debts of less than £10,000.00 to weigh up what legal costs will be incurred because a debt for £10,000.00 may be referred to the Small Claims Track within the County Court where the usual order is that costs (other than Court fees) are not ordered to be paid.

We ensure that a practical commercial and cost-effective approach is adopted to consider what options are available to the client. In addition, we discuss the pros and cons and potential costs of such options to enable the client to decide how to proceed.  This includes considering whether there is any realistic chance of being able to recover the money from the debtor following any Court Judgement obtained in the case.

We adopt a pragmatic, common sense approach in order to provide the right support and advice to our clients when pursuing all levels of debt recovery.

Range of fixed fees for a business to business debt (which is undisputed)

Debts from £2,000 to £5,000

  • Letter of claim: £180.00
  • Additional chase up correspondence in the absence of a response (simple matter): £60.00
  • Additional chase up correspondence in the absence of a response (complex matter): £90.00
  • Commencement of court proceedings: £115.00 or 205.00
  • Entry of default judgment: £90.00
  • Reply to defence: £180.00 (simple matter); £360.00 (complex matter)
  • Capped fees up to and including trial: £1,000.00
  • Dealing with enforcement, advising client and chasing enforcement: £180.00

Debts from £5,001 to £10,000

  • Letter of claim: £198.00
  • Additional chase up correspondence in the absence of a response (simple matter): £60.00
  • Additional chase up correspondence in the absence of a response (complex matter): £90.00
  • Prevent/object to Company Strike off Action with supporting evidence: £540.00
  • Commencement of court proceedings: £455.00
  • Entry of default judgment: £90.00
  • Reply to defence: £180.00 (simple matter); £360.00 (complex matter)
  • Capped fees up to and including trial: £1,500.00
  • Dealing with enforcement, advising client and chasing enforcement: £180.00

Debts above £10,000

  • We will agree fixed, capped or staged fees on a case by case basis depending on the facts/complexity of each individual matter.
  • Prevent/object to Company Strike off Action with supporting evidence: £720.00

Other fees regularly incurred

  • Application in existing Court proceedings – £255.00 or by consent – £100.00
  • Barristers’ fees – in certain matters we may advise instructing a barrister to represent you at a final hearing. We would advise you in advance of any final hearing if we felt this was the best option.  Barristers’ fees are separate to our fees up to and including trail and we would request payment in advance to be held on account.

All fees quoted above are exclusive of VAT.

Legal fees for court proceedings will be accompanied by a court issue fee and legal fees for work up to and including trial will be accompanied by a hearing fee.  Where an enforcement action is requested further Court fees will be payable.

We reserve the right to vary the above fees depending on the complexity of the matter.  If a variation in our fees is necessary, we will notify you as soon as we are able to.

We have four members of the Dispute Resolution Team who may work on your matter.  Regardless of who works on your matter they will be supervised by Phillip Moir or Barry Wood as Directors of Richard Reed Solicitors.

BARRY WOOD – DIRECTOR

Barry is Head of our Dispute Resolution Department.  He was admitted as a Fellow of CILEx (Chartered Institute of Legal Executives) on the 6th August 1986.

Barry specialises in a whole range of civil matters. He has over 40 years’ experience in dealing with many different types of dispute too numerous to list.  His experience also includes drafting of or advising on contractual documents of claims and remedies.

His experience in Court proceedings includes disputes in the County Court, High Court, Court of Appeal and the European Court of Justice.

Please contact Barry on (0191) 567 0465 or email: bcw@richardreed.co.uk

PHIL MOIR – SOLICITOR

Phil is a Director of Richard Reed and he qualified as a Solicitor on the 1st September 2006.

Phil specialises in a whole range of civil matters. He has over 12 years’ experience in dealing with many different types of disputes.

Please contact Phil on (0191) 567 0465 or email pm@richardreed.co.uk

LISA BRANKER – SOLICITOR

Lisa is a Solicitor in our Dispute Resolution Department.  She qualified as a Solicitor in October 2000.

Lisa handles a variety of Dispute Resolution matters including contentious probate, landlord and tenant disputes, consumer rights disputes and debt recovery claims.

Please contact Lisa on (0191) 567 0465 or email: lisa.branker@richardreed.co.uk

 

Richard Reed Solicitors is a trading name of Richard Reed Ltd. A full list of company directors is available at 3 – 6, Frederick Street, Sunderland SR1 1NA. Registered in England and Wales. Company Registration No: 05702566 VAT Registration No: 176 6121 59. This firm is authorised and regulated by the Solicitors Regulation Authority. SRA No: 000568890. Richard Reed Ltd is contracted with the Legal Aid Agency.