Commercial Debt Recovery - Nottingham Solicitors Nottingham Debt Recovery Commercial Debt Recovery for your Business - Commercial Solicitors Nottingham


 

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Commercial debt recovery business advice

We understand it is important to recover commercial debts quickly; with certainty and transparency as to the costs involved; and to have the assurance that those costs will be proportionate to the size of the debt.

For that reason we have devised a charging structure for commercial clients whereby our fees are based on the size of the debt and the extent to which the claim is defended. 

Claims settled before Proceedings are issued

If the debt is recovered following receipt of our Letter of Claim, we limit our charges to £10.00 inclusive of VAT. 

Scale of charges for debt recovery proceedings issued in the Court

If such Court Proceedings are undefended our sliding scale of fixed charges will apply as follows: -


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Amount of Debt *Solicitors Fixed Fee

*Court Issue Fees
(N.b  other disbursements may apply see below)

 
Claims up to £500.00 £100.00 + VAT  £45.00  
Claims between £500.00/£1,000 £130.00 + VAT  £65.00
Claims between £1,000/£5,000 £195.00 + VAT  £108.00
Claims between £5,000/£15,000 £300.00 + VAT  £225.00
Claims between £15,000/£50,000 £425.00 + VAT  £360.00
Claims between £50,000/£100,000 £500.00 + VAT  £630.00

Explanation of Solicitors Fixed Fee and disbursements:
  • Our fixed fee covers all work up to and including enforcement of the Judgment but you will be responsible for all disbursements payable to third parties e.g. Court, Bailiffs and Land Registry fees.
     
  • Such disbursements are added onto the judgement debt and therefore can be recovered from the defendant. The court fees applicable (such as the fee shown above for issuing proceedings) will be those in force at the time of instruction and are subject to review by the Lord Chancellor.
     
  • Any debt, interest, disbursements or fixed costs recovered will be credited to your account.
If the claim is defended the following charges will apply:
Amount of Debt    
Claims less than £5,000

Discretionary fee to be agreed

The fixed fee scale above will not apply  and we will charge our normal hourly rate. Please note that the that the defendant will usually also be ordered to contribute towards your reasonable legal cost if judgement exceeds £5,000.  
Claims greater than £5,000

We would be pleased to discuss our rates if any further details are required.

   
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Andersons Solicitors, always the right choice.

 
Andersons Solicitors, 40-42 The Ropewalk Nottingham NG1 5EJ
Tel. 0115 947 0641  Fax. 0115 9504252

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Easy on-street parking.  Debit and credit cards accepted (please ask for more details).