DEBT RECOVERY

Who will carry out the work?

 

• Director assisted by Solicitor

• Solicitor/Director assisted by a Trainee Solicitors or a Paralegal

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The Debt cases are handled by Director Jovanda Guri who has over 2+ years of debt experience and enjoys greatly assisting clients.

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All work is supervised by a senior Director, who retains ultimate responsibility and conduct of matters

 

Hourly Rates:

 

• Senior Director (4+ years) - £220 - £290 plus VAT

• Director or Solicitor (2+ years) - £170 - £240 plus VAT

• Paralegals/Trainee Solicitor - £130 plus VAT

 

On average, this type of work entails from 4 to 10 hours of work depending on the level of communication required.

 

The exact number of hours it will take depends on the circumstances in your case. Factors that may affect the hours can be:

 

• The amount of supporting evidence that we need to consider

• Lack of cooperating from the opponent

• Number of Parties

• Historical background

• Taking opinion from the Counsel or Barrister

• Jurisdictions of parties (should a defendant live outside the jurisdiction we would have to revisit costs estimates depending on the country in question).

• Complications relating to service

• Investigations on the defendants and address of the defendant

• Unforeseen complexities that may arise

• Language barriers or translations

 

What services are included in this?

 

• Initial attendance and consideration of the options and assessing most appropriate way forward based on client’s circumstances

• Reviewing documentation advising on the same

• Taking opinion from the Counsel or Barrister

• Undertaking appropriate searches

• Sending a letter before action

• Receiving payment and sending onto you, or

• if the debt remains unpaid, drafting and issuing a claim

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

• When Judgement in default in received, write to the other side to request payment

• If payment is not received within 28 days, provide you with advice on the next steps and likely costs

 

Likely Disbursements:

 

• Court Fees (please click on the Link) (No Vat)

• All disbursements attract VAT if applicable. Disbursements such as but not limited to Counsel/Barrister’s fees, expert’s fees, search fees, translation costs, etc should they become necessary;

• Counsel’s Fees – dependant on the seniority of Counsel (£750.00 to £2500.00 plus Vat)

• Expert reports – fees depend on expert and level of reporting required (£500.00 to £2000.00 plus Vat)

• Enforcement action to collect a debt or enforce a judgment; (£60.00 to £5000.00 plus Vat)

• Translation costs (£20.00 - £75.00 plus Vat per document)

• Search fees (£100.00 to £2000.00 plus Vat)

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We will let you know at the earliest opportunity and before any such fees are incurred by yourself if any of these are applicable.

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Value Added Tax (VAT):

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Our costs are subject to VAT. Where an expert is registered for VAT purposes their fee would be subject to VAT. VAT amount at present is 20% of the quoted fee.

 

Time scale (on average):

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**Stages may vary depending on the complexity of the case and timeline may vary according to Court service availability **

Pre Action Protocol steps – up to 3 months for a letter of claim and letter of response to be dealt with Mediation **

if no resolution after the pre-action**

Issue Claim
Defense (4 weeks)
Reply to Defence (2 weeks)
Directions Questionnaires (4 weeks)
Costs Budgets (6 weeks)
Costs and Case Management Conference (approx. 4 – 6 months after the issue of the claim)
Disclosure (4 weeks)
Reply to Disclosure (2 weeks)
Expert Reports and discussions (4 weeks)
Witness Statements (4 weeks)
Hearing (approximately 12 – 18 months from the issue of Claim depending on court timetable and whether mediation is used)

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Please note the anticipated number of hours, fees and timescales are an estimate based on the facts above. All services are likely to vary and of course, we can give you a more accurate estimate once we have more information about your specific case.