Business Debt Fees

Range of fixed fees for a business to business debt that is an undisputed Court Claims

 

Court Claims

We recognise the importance of effective debt recovery to our clients. At Phillips we provide a professional and cost effective service in order to recover your outstanding debts and have outlined our fees for undisputed business debts:

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.

No Proceedings Issued

 

 

Debt Value

 

 

Our Fee (excluding VAT)

 

 Total (including VAT)

 

Up to £5,000

 

 £250

 £300

 

£5,001 - £10,000

 

 £350

 £420

 

£10,001 - £50,000

 

 £550

 £660

 

Proceedings Issued 

 

Debt Value

 

 Court Fee

 

Our Fee (excluding VAT)

 

 Total (including VAT)

 

Up to £5,000

 

 £205

 £450

 £745

 

£5,001 - £10,000

 

 £455

 £650

 £1,235

 £10,001 - £50,000

 5% value of the claim

 £1,000

 

For example a £10,001 claim would be £1,500.05

 

 

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.

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 is received, write to the other side to request payment.
  • If payment is not received within 28 days, providing you with advice on next steps and likely costs.