Debt Recovery Solicitors – Tierneys

Cashflow is vital, so when a Person or Business owes you money it can cause significant problems. As debt recovery solicitors it is our aim to recover this money as swiftly as possible be it a large or small debt.

 

We Provide Debt Recovery Services For…

  • Retention Claims
  • Large & Small Debts
  • Unpaid Loans
  • Credit Control & Debt Recovery
  • Defending Claims against you
  • Setting aside wrongful judgements

We Offer…

  • Swift efficient service.
  • Clear & Open pricing options – paid by results.
  • Advice as and when you need it.
  • Extensive Experience with a fantastic track record.
  • Home Visits and Video Conferencing available by arrangement

Fees

Debt recovery – business to business – undisputed debts up to £100,000.00
The below rates apply to claims in relation to unpaid invoices which have been provided to your customer and not been disputed, yet remain unpaid and is therefore being pursued as a debt. These debts do not fall under the pre-action protocol for debt claims and therefore will fall under the practice direction for pre-action conduct.

Stage 1 – Receiving your instructions, preparing and sending protocol letter before action – £100 plus VAT.
Stage 2 – if you instruct us to send any follow up correspondence or phone calls before issuing proceedings – £25 + VAT each.

Stage 3 – if no payment is received following stage 1 (and, if instructed, stage 2), proceedings can be issued, and our fees and the relevant court fee will depend on the amount being claimed. This stage includes drafting the pleadings to include any interest, taking instructions, issuing the claim and updating you as to the position. We provide a fixed fee arrangement for issuing claims on undisputed debts as follows:

Value of your claimOur feesCourt fee
Up to £300.00£300 + VAT£35.00
More than £300 but not more than £500£300 + VAT£50.00
More than £500 but not more than £1000£300 + VAT£70.00
More than £1,000 but not more than £1,500£300 + VAT£80.00
More than £1,500 but not more than £3,000£300 + VAT£115.00
More than £3,000 but not more than £5,000£300 + VAT£205.00
More than £5,000 but not more than £10,000£500 + VAT£455.00
More than £10,000 but not more than £100,000£500 + VAT£5% of claim value

Stage 4 – should the debtor not respond to the claim and a Judgment in default is entered, or should the debtor respond admitting the claim and making proposals for payment, we will take your instructions in relation to the same and provide any necessary response to the Court – £50 + VAT.

Depending on the value of the claim, some of the above fees may be recoverable from the debtor but the VAT charged on our fees will not be reclaimable.

The fees stated above are limited to:
Stage 1 – considering your unpaid invoices and taking instructions on attempts made to recover the monies to date, drafting and sending the letter before action and updating you following response or lack of response.
Stage 2 – this is a discretionary stage and if instructed to do so we will make a chaser call or sending a chaser email to the debtor.
Stage 3 – preparing the claim based on the letter of claim and issuing the claim at court, taking any payment, and updating you as to any response received from the debtor.
Stage 4 – after the relevant period of time we will update you as to whether a judgment in default can be entered and take your instructions. We will prepare any request for a judgment and provide you with the default judgment order once received.

The costs associated with stage 1 – 4 above do not include providing you with advice on your legal position or other options available to you, checking your calculations or reviewing all documentation (it will be assumed the figure to be claimed, which will be provided by you, is correct), attending any meeting to discuss the position, providing you with advice as to any disputed debts, negotiating with the debtor, advising on the debtor’s response or sending any pre-action correspondence to the debtor.

The above fees do not apply to undisputed claims over £100,00.00 or disputed claims of any value nor do they include the cost of any necessary enforcement action which would take place following the completion of stage 4. We will be happy to provide you with independent bespoke advice for undisputed claims over £100,000.00 and disputed claims of any value as well as advice about your enforcement options as necessary. In addition, there are many other types of dispute which are more than simply debt recovery. These can include building, neighbour and contract disputes, partnership, property ownership or any other dispute and we are unable to provide you with fixed fees relating to these matters as they vary so widely. Our fees for all these areas will be charged based on our hourly rates as follows:

PositionHourly Rate (plus VAT)
Directors and Senior Solicitors£300.00
Experienced Solicitors£260.00
Solicitors/Legal Executives£225.00
Trainee Solicitors, Paralegals and experienced clerks£175.00
Legal Assistants£100.00
Debt recovery – business to individual – undisputed debt with a value of up to £100,000.00

The below rates apply to claims in relation to unpaid invoices which have not been disputed by the individual yet remain unpaid. The Pre-Action Protocol for debt claims will apply to any business claiming a debt from an individual (including a sole trader). This means that certain steps should be taken before any court proceedings are issued. The below costs do not apply to business to business debts unless the debtor is a sole trader.

Stage 1 – Receiving your instructions, preparing and sending protocol letter before action – £100 plus VAT.
Stage 2 – if you instruct us to send any follow up correspondence or phone calls before issuing proceedings – £25 + VAT each.

Stage 3 – if no payment is received following stage 1 (and, if instructed, stage 2), proceedings can be issued, and our fees and the relevant court fee will depend on the amount being claimed. This stage includes drafting the pleadings to include any interest, taking instructions, issuing the claim and updating you as to the position. We provide a fixed fee arrangement for issuing claims on undisputed debts as follows:

Value of your claimOur feesCourt fee
Up to £300.00£200 + VAT£35.00
More than £300 but not more than £500£200 + VAT£50.00
More than £500 but not more than £1000£200 + VAT£70.00
More than £1,000 but not more than £1,500£200 + VAT£80.00
More than £1,500 but not more than £3,000£200 + VAT£115.00
More than £3,000 but not more than £5,000£200 + VAT£205.00
More than £5,000 but not more than £10,000£400 + VAT£455.00
More than £10,000 but not more than £100,000£500 + VAT£5% of claim value

Stage 4 – should the debtor not respond to the claim and a Judgment in default is entered, or should the debtor respond admitting the claim and making proposals for payment, we will take your instructions in relation to the same and provide any necessary response to the Court – £30 + VAT.

Depending on the value of the claim, some of the above fees may be recoverable from the debtor but the VAT charged on our fees will not be reclaimable.

The fees stated above are limited to:
Stage 1 – considering your unpaid invoices and taking instructions on attempts made to recover the monies to date, drafting and sending the letter before action and updating you following response or lack of response.
Stage 2 – this is a discretionary stage and if instructed to do so we will make a chaser call or sending a chaser email to the debtor.
Stage 3 – preparing the claim based on the letter of claim and issuing the claim at court, taking any payment, and updating you as to any response received from the debtor.
Stage 4 – after the relevant period of time we will update you as to whether a judgment in default can be entered and take your instructions. We will prepare any request for a judgment and provide you with the default judgment order once received.

The costs associated with stage 1 – 4 above do not include providing you with advice on your legal position or other options available to you, checking your calculations or reviewing all documentation (it will be assumed the figure to be claimed, which will be provided by you, is correct), attending any meeting to discuss the position, providing you with advice as to any disputed debts, negotiating with the debtor, advising on the debtor’s response or sending any pre-action correspondence to the debtor.

The above fees do not apply to undisputed claims over £100,00.00 or disputed claims of any value nor do they include the cost of any necessary enforcement action which would take place following the completion of stage 4. We will be happy to provide you with independent bespoke advice for undisputed claims over £100,000.00 and disputed claims of any value as well as advice about your enforcement options as necessary. In addition, there are many other types of dispute which are more than simply debt recovery. These can include building, neighbour and contract disputes, partnership, property ownership or any other dispute and we are unable to provide you with fixed fees relating to these matters as they vary so widely. Our fees for all these areas will be charged based on our hourly rates as follows:

PositionHourly Rate (plus VAT)
Directors and Senior Solicitors£300.00
Experienced Solicitors£260.00
Solicitors/Legal Executives£225.00
Trainee Solicitors, Paralegals and experienced clerks£175.00
Legal Assistants£100.00

Debt Recovery Service, Contact us today and find out how we can help you

Home Visits and Video Conferencing available by arrangement