Debt Recovery Fees
These costs apply where your 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.
| Debt Value | Our Fees | Court Fee | Barristers Fee | DBA (charged end of case)* |
|---|---|---|---|---|
| £1,001 - £1,500 | £450+ VAT £540 inc VAT | £80 | TBA | 15% |
| £1,501 - £3,000 | £450+ VAT £540 inc VAT | £115 | TBA | 15% |
| £3,001 - £5,000 | £750+ VAT £900 inc VAT | £205 | TBA | 15% |
| £5,001 - £10,000 | £1150+ VAT £1380 inc VAT | £455 | TBA | 15% |
| £10,001 to £200,000 | £5000+ VAT £6000 inc VAT | 5% of claim | TBA | 15% |
| £200,001 plus | £7500+ VAT £9000 inc VAT | £10,000 | TBA | 15% |
| Additional fees may apply dependent upon when our office is instructed and complexity of case |
Anyone wishing to proceed with a claim should note that:
*DBA is a damage-based agreement – under this agreement you will pay Farnworth Rose an additional fee for a sum equivalent to 15 percent of damages recovered on conclusion of the matter.
If the matter is complex or involves multiple parties then our fees may vary
The VAT element of our fee cannot be reclaimed from your debtor.
Interest and compensation may take the debt into a higher banding, with a higher cost.
The costs quoted above are not for matters where enforcement action, such as the bailiff, is needed to collect your debt.
Our fee includes:
Taking your instructions and reviewing documentation
Undertaking appropriate searches
Sending a letter before action
Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing 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 21 days, providing you with advice on next steps and likely costs
Matters usually take 3 - 6 months from receipt of instructions from you to receipt of payment from the other side, depending on whether or not it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of Judgement in default. If enforcement action is needed, the matter will take longer to resolve.
Who will deal with my matter?
Your matter will be dealt with by Inzamam Ulhaq. The supervisor for the litigation department is Craig Baldwin.
