SRA Price Transparency

Debt Recovery, Immigration and road traffic

At Eldwick Law, our team of solicitors are committed to helping individuals and companies who are seeking to recover any outstanding debt(s) owed, whatever the quantum, where the debtor is based in England and Wales. In accordance with the Solicitors Regulation Authority, we have set out our estimated debt recovery charges below. We aim to be transparent in our pricing with our clients, however it is important to understand that the complexity of each case can vary and therefore our prices are estimates.

If you wish to proceed with a claim, you should note be aware of the following: the VAT element of our fee cannot be reclaimed from the debtor; interest and compensation may increase the debt cost; the costs quoted below do not include enforcement action such as if bailiffs need to collect the debt on your behalf.

Our solicitors work on a fixed fee hourly basis and their hourly rates, unless there is an additional funding agreement in place, are set out below:

Legal Role

Hourly Rate

Partner/Solicitor with more than 8 years’ PQE

£500.00 (plus VAT)

Solicitor with more than 4 years’ PQE

£350.00 (plus VAT)

Solicitor with less than 4 years’ PQE

£250.00 (plus VAT)

Trainee Solicitor / Paralegal

£150.00 (plus VAT)

Stage 1: Pre-Action

Our debt recovery procedures are commenced by first sending our client a Client Care Letter together with a copy of our Standard Terms & Conditions. Once a signed copy has been returned to us, we will proceed with preparing and sending a pre-action letter/letter of claim to the debtor, which sets out in detail the background of the dispute and the quantum of the debt that we are seeking to recover. If the debtor is willing to pay the outstanding debt, then our legal charges will be minimal. The letter before action will require the debtor to pay the outstanding sum within 21 days for individuals and companies. However, please note in complicated cases the other side will normally have up to 3 months in which they may respond. The below is an estimate of our fees to assist in a straightforward debt recovery matter:

Pre-action

Individuals

Companies

Taking your instructions and reviewing documentation

£750.00 (plus VAT)

£750.00 (plus VAT)

Undertaking appropriate searches

£150.00 (plus VAT)

£300.00 (plus VAT)

Sending a letter before action

£1,000.00 (plus VAT)

£1,000.00 (plus VAT)

Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing a claim

£1500.00 (plus VAT)

£1500.00 (plus VAT)

Stage 2: Issuing Legal Proceedings

If the letter of claim to the debtor does not result in payment, we will issue a claim in the County Court or High Court (as appropriate) which involves preparing a Claim Form and Particulars of Claim to recover the debt owed. The defendant has 14 days to respond to the claim if they file a Defence. If they file an Acknowledgment of Service, then they will have a further 14 days in which to file their Defence. If there is no Acknowledgment of Service or Defence filed within the specific timeframe, we could then make a request for a judgement in default.

To minimise the stress and costs of litigation, we may enter into a negotiation with the debtor to settle the costs without recourse to the court. This could be a mediation or arbitration for example.

Supplementary charges may incur if litigation is ensued such as Counsel’s fees, expert’s fees, the disclosure stage of litigation, etc. The cost of these will largely depend on the circumstances involved and we may charge additional fees depending on the length and complexity of the claim.

Legal Proceedings

Individuals

Companies

Where no Acknowledgment of Service of Defence is received, applying to the court to enter Judgement in default

£350.00 (plus VAT)

£350.00 (plus VAT)

When judgement in default is received, write to the other side to request payment

£150.00 (plus VAT)

£150.00 (plus VAT)

If payment is not received within the deadline, providing you with advice on next steps and likely costs

£500.00 (plus VAT)

£500.00 (plus VAT)

Please note the court fee may vary depending on the value of the claim. The estimated costs below include us preparing and filing the Claim Form and Particulars of Claim with the court.

Claim amount

Paper form fee

Online claim fee

Our fee

Up to £300

£35

£25

£150.00 (plus VAT)

£300.01 to £500

£50

£35

£175.00 (plus VAT)

£500.01 to £1,000

£70

£60

£200.00 (plus VAT)

£1,000.01 to £1,500

£80

£70

£250.00 (plus VAT)

£1,500.01 to £3,000

£115

£105

£350.00 (plus VAT)

£3,000.01 to £5,000

£205

£185

£450.00 (plus VAT)

£5,000.01 to £10,000

£455

£410

£550.00 (plus VAT)

£10,000.01 to £100,000

5% of the claim

4.5% of the claim

£850.00 (plus VAT)

£100,000.01 to £200,000

5% of the claim

You cannot make a claim online

£1,000.00 (plus VAT)

More than £200,000

£10,000

You cannot make a claim online

£2,000.00 (plus VAT)

Other services

Statutory Demand

This is a formal demand for payment that is undisputed or admitted and is usually served within 48 hours. Our costs for preparing a Statutory Demand is £500 plus VAT. If the debtor ignores the Statutory Demand or cannot pay the money, you can issue a bankruptcy order if you are owed £5,000 or more by an individual, or you can apply to liquidate a company if the debtor owes you £750 or more.

Bankruptcy petition

You can present a bankruptcy petition to court for someone’s assets to be taken and sold to pay their debt owed to you. The court fees to bankrupt an individual or a company are £990 for the petition deposit and £280 for court costs. Our costs are £1000 plus VAT.

Insolvency

You can choose to ‘wind up’ a company, where the company goes into compulsory liquidation. To apply, you must be able to prove that the company cannot pay you. If you are successful, the company’s assets are sold, and funds are paid to you. The court fees to wind up a company are £1600 for a petition deposit and £280 in court fees. Our costs are £1000 plus VAT.