You are owed money and want to recover it
Debts adversely affect your cash flow, cause business uncertainty and prevent growth. Effective debt management is vital to the success of your business!
We assist businesses like yours recovering money you are owed. We can offer your business a dedicated service focussing on getting your money back in your pocket.
What is involved?
Letter before action - Before court proceedings
The first step in recovering your debt is to write a formal Letter Before Action to the debtor requesting that they make payment of the full amount owed by a certain date.
If we do not receive payment or a response to the Letter Before Action or the debtor refuses to pay, we will advise that court proceedings are necessary.
If you wish us to continue after a Letter Before Action we will commence legal proceedings in court to recover the monies that are owed.
WHY SHOULD I CHOOSE WALDRONS?
We have a specialist debt recovery team dedicated to recover money owed to clients as quickly as possible.
As a client using our debt recovery service you will have direct access to your specialist solicitor with a direct phone number and email address so you can always contact us.
HOW MUCH WILL IT COST?
You do not need to worry as our charges are based on what we collect, so if we do not recover any money, you do not pay us anything. Please see the table below outlining our fees. We are always completely clear on costs from day 1 and we will always discuss your options with you before we commence work.
Pre-Legal (before any proceedings are issued)
Charged on a commission basis of 10% of whatever we recover
Court Proceedings (non-disputed)
Up to £10,000 – Charge on a fixed fee basis of £400 plus VAT plus disbursements
Over £10,000 - Charged on a fixed fee basis of 5% plus VAT plus disbursements
Court Proceedings (disputed)
Up to £10,000 – Charged on a fixed fee basis of £2000 plus VAT plus disbursements
Over £10,000 – Case by case basis
The additional disbursements will include the following court fees:
Amount of debt - Up to £300
Court Fee – £35 / Online Court Fee – £25
Amount of debt - £300-£500
Court Fee- £50 / Online Court Fee - £35
Amount of debt - £500-£1000
Court Fee – £70 / Online Court Fee- £60
Amount of debt - £1000-£1500
Court Fee- £80 / Online Court Fee- £70
Amount of debt - £1500-£3000
Court Fee- £115 / Online Court Fee- £105
Amount of debt - £3000-£5000
Court Fee- £205 / Online Court Fee- £185
Amount of debt - £5000-£10,000
Court Fee- £455 / Online Court Fee- £410
Amount of debt - £10,000.01 - £100,000
Court Fee- 5% of the value claimed / Online Court Fee- 4.5% of the value claimed
Amount of debt - £100,000.01 - £200,000
Court Fee- 5% of the value claimed / Online Court Fee- you cannot make a claim online
Amount of debt - More than £200,000
Court Fee- £10,000 / Online Court Fee- you cannot make a claim online
Trial Fees (If your claim goes to trial)
On the multi-track (claims above £25,000) - £1,090
On the fast track (claims between £10,000 - £25,000) - £545
On the small claims track where the sum claimed: (claims up to £10,000)
does not exceed £300 - £25
exceeds £300 but does not exceed £500 - £55
exceeds £500 but does not exceed £1,000 - £80
exceeds £1,000 but does not exceed £1,500 - £115
exceeds £1,500 but does not exceed £3,000 - £170
Exceeds £3,000 - £335
The fees above are conditional on the following:
- You provide us with all relevant documents and information we require when we ask
- You have correctly identified your debtor
- The debts are not subject to substantive disputes or counterclaims
For debt recovery advice that is tailored to your individual business, please contact a member of our team.