DEBT RECOVERY

MYM SOLICITORS IN SLOUGH

Debt Recovery (up to £100,000)

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 of £450+VAT or an hourly rate if more extensive work is needed.

For Court fees, please go to https://www.gov.uk/government/publications/fees-in-the-civil-and-family-courts-main-fees-ex50

 

Anyone wishing to proceed with a claim should note that:

•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.

it is the case that a carefully drafted letter can result in a resolution, however sometimes for the more complex and higher value cases that end up at Court, the costs can be in the region of £2000 - £5000.00 be incurred, however we keep you informed as to the costs position and would aim to achieve the right result for you before costs reach those levels, if at all possible. We set out below indicative costs of the various elements involved.

Likely disbursements, and their costs

Counsel’s Fees – dependant on the seniority of Counsel

Expert reports – fees depend on expert and level of reporting required

Key stages and typical timescales of these

**Stages may vary dependant on the complexity of 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)