Our range of fixed fees for a business to business debt that is undisputed.
We have five members of the team who may work on your matter. Regardless of who works on your matter, they will be supervised by Ian Coupland, Director and Head of the Commercial and Litigation Department. Ian qualified in 1988 and has over 30 years’ experience in dealing with all aspects of business and commercial law, including debt disputes.
Our Team
- Ian Coupland, Director
- Adam Creasey, Partner
- Abigail Grace Williams, Solicitor
- Sherry Fard, Solicitor
- Hamilton Li, Paralegal
Fixed Fees for a Business to Business Debt That is Undisputed
These costs apply only where your business claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed.
If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary, which could be on a fixed fee (e.g. if a one-off letter is required), or an hourly rate if more extensive work is needed. Details of our hourly rate can be found further below.
|
Debt value |
Court fee |
Our fee (incl. VAT) |
Total |
|
Up to £5,000 |
£35 - 205 |
£1,000 (£1,200 inclusive of VAT) |
£1,235 – 1,405 |
|
£5,001 - £10,000 |
£455 |
£2,500 (£3,000 inclusive of VAT) |
££3,455 |
|
£10,001 - £50,000 |
5% value of the claim |
£5,000 (£6,000 inclusive of VAT) |
£TBC |
|
£50,001 - £100,000 |
5% value of the claim |
£7,500 (£9,000 inclusive of VAT) |
£TBC |
If the debt becomes disputed and our hourly rates fall applicable, these are dependent upon the experience of the solicitor, and/or other members of staff, that spend time working on your case. Our hourly rates are detailed below and details of the level of experience of our team can be found by clicking on the link for each member above.
|
Band |
Experience |
Hourly Rate |
|
A |
Solicitors and legal executives with over 8 years’ experience |
£350 per hour + VAT |
|
B |
Solicitors and legal executives with over 4 years’ experience |
£300 per hour + VAT |
|
C |
Other solicitors or legal executives and fee earners of equivalent experience |
£250 per hour + VAT |
|
D |
Trainee solicitors, paralegals and other fee earners |
£125 per hour + VAT |
VAT is payable on all of our fees, at the standard rate of 20%. This is applicable save for in circumstances where you are a company registered outside of England and Wales, and you are registered to pay tax outside of England and Wales, when VAT shall not fall payable.
Please note do not offer Contingency Fee Agreements (i.e. “no win no fee” arrangements) nor do we offer Damages Based Agreements (i.e. an agreement that our fees shall be based upon a specific % of any damages that we recover on your behalf).
Anyone wishing to proceed with a claim should note that:
- The VAT element of our fee cannot be reclaimed from your debtor;
- Interest and statutory compensation may take the debt into a higher banding, with a higher cost; and
- The costs quoted above are not for matters where enforcement action, such as a bailiff, is needed to collect your debt.
Key Stages
The fees set out above cover all of the work in relation to the following key stages of an undisputed debt claim which are as follows:
- Taking your instructions and reviewing documentation;
- Undertaking appropriate searches;
- Sending a letter before action;
- Receiving payment and sending onto you, when payment is received;
- If the debt is not paid, drafting and issuing a claim;
- Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgment in default (i.e. judgement in default of any response from the other side);
- When Judgment in default in received, write to the other side to request payment;
- If payment is not received within 14 days, providing you with advice on next steps for enforcement and likely costs.
The fees set out above do not cover the following:
- Our forward work in circumstances where the debt, at any stage, becomes disputed;
- Any enforcement action necessary in respect of enforcing the debt;
- Any disbursements other than court fees (costs related to your matter that are payable to third parties). It is unlikely that any such disbursements would fall payable in an undisputed debt matter. However, in exceptional circumstances disbursements may fall payable. We would discuss any such disbursements with you as soon as we became aware of the nature of the same.
How long will my matter take?
Matters usually take between 1 – 6 months from receipt of instructions from you to receipt of payment from the other side, depending on whether it is necessary to issue a claim or whether payment is forthcoming sooner.
The above is on the basis that the other side pays promptly, on receipt of Judgment in default from the court, and presuming that there is no delay in the court issuing your claim.
If enforcement action is needed, or the other side makes an application to set aside the judgement (i.e. for the judgment to be withdrawn), the matter will take longer to resolve.
The timeframe in which your matter is concluded will also depend upon the timeliness of responses from the court which can be affected by their capacity at any given time.
Contact Lewis Nedas today
For more information regarding our services and funding, please call us on 020 3811 4042
