Isadore Goldman is committed to providing transparency in pricing in line with the Solicitors Regulation Authority price transparency rules to ensure that you have accurate and relevant information to help you make an informed choice.

 

Debt recovery (up to £100,000)

This page sets out the costs for our commercial debt recovery work for claims up to the value of £100,000 against debtors located within England and Wales. Costs for debt claims above this value are available on request.

The costs below will apply in respect of undisputed contractual debts (i.e. where money is due from one party to a contract to another under the contract, and there has been no indication that the debtor disputes the debt). If the other party disputes your claim at any point prior to issue of proceedings, we will discuss any further work required and provide a revised cost estimate.

 

Stage 1 – Pre-action

A pre-action protocol compliant letter will typically take a fee earner between 1-2 hours to prepare and can be produced within 24-48 hours depending on the level of complexity involved and the volume of relevant documents.

Timescale

This letter gives the debtor a minimum of 30 days to respond.

 

Stage 2 – issuing legal proceedings

If the matter cannot be resolved at the pre-action stage, then the preparation of Court proceedings will take approximately 2 hours.

Where a bespoke Particulars of Claim is required for a particularly complex claim, then additional fees may apply which will be discussed with you.

On issue the following fees are also payable to the court; -

 

Claim amountCourt fee
Up to £300£35
£300.01 to £500£50
£500.01 to £1,000£70
£1,000.01 to £1,500£80
£1,500.01 to £3,000£115
£3,000.01 to £5,000£205
£5,000.01 to £10,000£455
£10,000.01 to £100,0005% of the claim
£100,000.01 to £200,0005% of the claim
More than £200,000£10,000

Timescale

A Defendant has 14 days from receipt of the Claim form and/or Particulars of Claim to respond by filing an Acknowledgment of Service.  If the Defendant does not respond in time then you can request judgment for the debt claimed in default. If the defendant does respond, then they have a further 14 days to file a Defence to the claim. If the Defendant then fails to file a Defence, judgment can be entered in default.

 

Stage 3 – Requesting judgment

Should it be necessary to enter a Request for Judgment, the following costs will be applicable:

 

Claim amountOur feeRecoverable costs
£25 - £4,999.99£50 + VAT £15 - £90
£5,000 +£75 + VAT £15 - £110

 

Stage 4 - Enforcement of judgment against debtors

Once judgment has been obtained you can enforce the judgment by instructing Court Enforcement Officers.  A fee of £75 plus VAT is payable even if the Defendant is unable to repay the judgment debt. Alternatively, we can discuss with you a variety of different means to recover the monies due and advise you of the relevant fees.

 

Costs:

Costs are time based unless we agree with you a fixed fee or other litigation funding.

Our standard hourly rates vary between £125-£385 plus VAT for a Legal Executive or Associate Solicitor and between £350-£525 plus VAT for Directors depending on the experience of the person working on your case made up from the following experienced fee earners in the debt recovery team:

Michelle Mollaghan

Jane Cary

Jenna Ansell

Jackie Jordan

Lauren Eastwood

To discuss your requirements and get an estimate please contact us on 0207 353 1000.