Email: reception@parkerarrenberg.co.uk                                                                                                                    General Enquiries: 020 8695 2330

    

Debt Recovery

 

We have set out below the issues you need to consider in relation to Legal Fees and disbursements for pursuing a debt of up to £100,000.

Our Legal Fees cover all of the work required to handle your case from instruction to conclusion.

 

Legal Fees

Legal Fees is the amount you will be required to pay for all the work performed by us in actioning your instructions from commencement of your case to conclusion.

  • Our average standard legal fee for pursuing a debt claim up to £100,000 where court proceedings are not necessary is 200 – £2000 + Vat 240 – 2400 inc VAT. The value and complexity of the matter alongside the stage at which the matter is resolved are factors that must be taken into account to confirm the fees in accordance with this scale.
  • Our average standard legal fee for pursuing a debt claim up to £100,000 where court proceedings are necessary is £2000- £10000 + Vat (£2400- £12000 inc VAT. The value and complexity of the matter alongside the stage at which the matter is resolved are factors that must be taken into account to confirm the fees in accordance with this scale.
  • If you matter is simple or low value we will discuss with you other fee options that may be available to ensure our fees are proportionate to the value of the debt.
  • If your matter becomes complex (see below) our fees may increase further and we will notify you in advance of any increased costs.
  • Should your instructions require us to take your matter out of the fixed fee rate (see below for what our fixed fee covers) we will charge an hourly rate of £100 – £300 + VAT (£120- £360 inc VAT) which will depend on the experience and qualification of the case handler as follows: –
    • Partner – £300 + VAT (£360inc VAT)
    • Solicitor £250 + VAT (£300 inc VAT)
    • Paralegal £90 + VAT (£108 inc VAT)
    • Trainee Solicitor £150 + VAT (£180 inc VAT)
  • We will charge the sum of £30 + VAT (£36 inc VAT) for Electronic money transfers.

If at any stage our fees change, we will notify you and discuss the reason for any changes. This would typically occur if you change your instructions or your case involves an unforeseen complexity.

Our average fees assume that:

  1. The transaction is concluded in a timely manner and no unforeseen complication arise.
  2. All parties to the transaction are co-operative and there is no unreasonable delay from any parties providing documentation.

Disbursements and Other Costs

  • Disbursements may be incurred in the handling of the matter for you. In Debt Claims, fees tend to relate to Counsels’ fees and Court Fees.
  • Counsels fees – If Counsel is required to be instructed a quotation for their services will be obtained from them and discussed with your before they are instructed to ensure you are fully aware of the fees that will be charged.

Stages of the Process

The precise stages involved in unfair or wrong dismissal claims vary according to the circumstances. We have set out the key stages of a standard transaction: –

  • Taking your initial instructions, reviewing the papers and advising you on merits (this is likely to be revisited throughout the matter and subject to change)
  • Undertaking regulatory checks
  • Formal letter before action to the debtor
  • Liaising with debtor to agree a settlement
  • Issuing a claim form via the Courts where settlement has not been achieved.
  • Liaising and negotiating with the debtor or their Solicitor to agree a settlement where possible.
  • Dealing with the legal process such as direction from the court
  • Preparing or considering a schedule of loss
  • Exchanging documents with the other party and agreeing a bundle of documents
  • Taking witness statements, drafting statements and agreeing their content with witnesses
  • Preparing bundle of documents
  • Reviewing and advising on the other party’s witness statements
  • Agreeing a list of issues, a chronology and/or cast list
  • Preparation at Final Hearing, including instructions to Counsel (1 day hearing)
  • Reporting to you on the conclusion of the matter and closing your file.

The stages set out above are an indication and if some of stages above are not required, your legal fee may be reduced.

Please note that the fee estimates provided do not include defending a counterclaim from the debtor, the cost of attendance at a final hearing by us or a Barrister instructed to represent you.

 

How long will my claim take?

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 without the need for issuing of court proceedings, your case is likely to take 4-8 weeks.

If it is necessary to issue court proceedings and your claim proceeds to a Final Hearing, your case is likely to take 16-32 weeks.

This is just an estimate and we will of course be able to give you a more accurate timescale once we have more information and as the matter progresses.

 

Factors That Could Make A Case More Complex

The following factors may make your case more complex and impact your legal fees and disbursements: –

  • The matter is defended
  • Judgement is obtained and needs to be enforced for example
    • Instruction of a Bailiff
    • Attachment to earnings
  • Making or defending a costs application

Should any of these factors occur we will notify you and discuss with you any increase in our legal fees or disbursements.

 

Fee Earners

The following fee earner handles Debt Recovery matters:

Nicola Walker is a qualified solicitor. Nicola qualified in 2007 and specialises in pursuing and defending employment claims in addition to commercial non-contentious legal work.

Questions

If you have any questions relating to our services and our fees, please contact us on 020 8695 2330 or email us at reception@parkerarrenberg.co.uk.