About Debt Recovery Process
Funding Your Case
our initial advice will cost you nothing. We will explain in straightforward language whether you have a claim for debt recovery or not. However, for the detailed assessment of your claim and to provide you with the written advice, there will be a charge of £150 plus VAT (20%).
To bring a claim for debt recovery, there may be a few different funding options available to you.
If your case is very strong, we can take your case on a “No win, No fee” basis. On a “No win, No fee” basis, we shall charge you only if you recover your debt, in part or whole, as per our basic fees at the rates agreed with you in advance. However, there would be an additional fee chargeable to you called success fee that can either be in the form of an uplift (up to 100%) on our basic charges or a certain percentage (up to 50%) of share from monies that you recover in your claim.
Our basic charges are calculated on an hourly basis and are subject to the complexity of the case and the experience of the caseworker. Our standard hourly charges start from £165 per hour (for solicitors with less than 4 years of experience) to £400 per hour (for solicitors with more than 8 years of experience).
In addition to our fees, you are likely to pay for disbursements, namely Court fees, barrister fees, experts fees etc. The Court fees are fixed fees ranges from £35 to £455 for claims of value below £10,000; 5% of the value of the claim if it is valued between £10,000.00 – £200,000.00; and £10,000 for the claims of value above £200,000.00. Barrister fees and expert fees may vary depending on the complexity of the case and experience of the Barrister/Expert and the number of court attendances involved. These fees are always agreed upon with you in advance before these are incurred.
Please note that VAT, currently at the rate of 20%, is chargeable on top of all our fees and disbursements.
Our Debt Recovery TeamOur Team consists of trainee solicitor Mr Richard Hopkin and qualified solicitors namely Salman Randhawa and Chinonso Ijezie, both have more than eight years of post-qualification experience.
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