Debt Recovery Lawyers Malton, York & Wetherby
At some point, whether an individual or a business, you will have someone who owes you money and who refuses to pay, despite your repeated requests that he/she does so, and where you will feel that involving a solicitor might help you to recover that debt.
In that situation, our Debt Recovery Service may be of assistance to you...
We specialise in recovering the money you are owed. Our practical and efficient approach, backed by specialist legal expertise, means we can advise on the most effective methods to recover your money.
Our Debt Recovery Team provides a specialist service to clients who want to recover unpaid sums of money whether arising from a written agreement, a verbal agreement or an unpaid invoice.
Fixed fee service
We offer a fixed fee service and can also provide advice on enforcement options once judgment is obtained against a debtor. Our team has extensive experience and acts for a wide range of clients from individuals through to multi-national organisations.
We offer a three stage debt recovery service
Stage 1: The letter before action.
Often a solicitor's letter results in payment. Our fees for this service are based on the value of the claim:
- Under £5,000 is - £100 plus VAT
- From £5,000 to £9,999.00 is - £150 plus VAT
- Over £10,000 is - £200 plus VAT
What this includes
A letter of claim to the debtor threatening court proceedings if payment in full is not received within 14 days in the case of a company debtor and 30 days in respect of an individual debtor or sole trader.
What this does not include
- The cost of investigating the correct identity of the debtor
- Claims against individuals outside England & Wales
- Debts where there is a known dispute about liability
These fees are payable in advance of the letter being sent to the debtor. A premium of 25% on the above fees is charged where the debtor is a non-business consumer or a sole trader, as more work is involved.
An additional charge will be made at the appropriate hourly rate (see below), for all work not included in this or any other fixed fee below.
Regulations require us to verify the identity of all our clients. If you are a new client then there is a fee of £15 plus VAT for this.
Where the debtor is a non-business consumer or a sole trader there is a premium of 25% on the above fees, as more work is necessary.
Stage 2: Court Proceedings.
If Stage 1 does not work, the next step is to issue court proceedings. We will, if required, draft and issue court proceedings on your behalf. There is a separate fee - an issue fee - payable to the court on issue of your Claim. This fee is payable by you and dependent upon the amount being claimed which is added to the debt. Details of these fees are here.
Our fees for this step are based on the value of the claim:
- Under £5,000 - £300 plus VAT
- From £5,000 to £9,999.00 - £400 plus VAT
- Over £10,000 - £500 plus VAT
You are entitled to retain the judgment debt and any interest to the extent they are recovered from the debtor.
If the debtor does not reply to the proceedings or files an admission, we will file a Request for Judgment; if the Debtor has not responded to the Claim or filed a Defence then a Judgment will be entered by the Court. Our fees for this step, if necessary, are £100 plus VAT.
Stage 3: Enforcement.
Some debtors may not pay even when a judgment is obtained against them. There are a number of options which can be pursued in order to seek to enforce the judgment - and get paid.
We can provide a tailored service to tie in with a business's existing in-house credit control policy to provide a seamless transition between creditor and solicitors.
Our Team has the added benefit of being part of Pearsons & Ward's Litigation and Dispute Resolution Department and can therefore offer clients the full expertise of that department should a debt recovery matter evolve into a more complex litigation matter.
Terms & conditions
This Scheme does not apply to claims which are or become defended. We also expect you to comply with our service conditions for this Scheme.
Please note that claims for the possession of residential or commercial property, or where you are claiming something other than money, are not included in this Scheme.
Any further work, including enforcement of payment of the debt by the debtor, is by negotiation, and will incur an additional negotiated fee. Any of our debt collecting team will be willing to discuss options for enforcing payment, where the debtor does not pay voluntarily, and will advise you on the cost.
Sample estimated enforcement fees are:
|Estimated fees||Court Fees||Other Fees||Our Fees|
|Attachment of Earnings||£119||-||
£125 plus VAT
|Issue of Warrant||£130||-||
£125 plus VAT
|Transfer Up Fees||£66||-||£125 plus VAT|
|Oral Examination||£59||£125 plus VAT||£125 plus VAT|
|Third Party Debt||£119||-||£125 plus VAT|
|Charging Order||£119||£40||£160 plus VAT|
Small Claims Fixed Fee Scheme
You may be eligible for our Small Claims Fixed Fee Scheme, if your claim is (or becomes) contested. If that is so, we will give you credit for any fee payment made by you up to that point.
The members of our debt collecting teams and their current hourly charge out rates for work not covered by the fixed fee scheme are:
Methods of Payment
Payment may be made by cheque made payable to Pearsons & WardSolicitors Ltd and sent to these offices.
Alternatively, payment may be made by way of card payment, by telephone or by direct bank transfer to our client account.
Please ask for details.
What We Need From You
To offer competitive rates, we do need your help to minimise the necessary work we need to undertake on your behalf.
There are, therefore, the following reasonable conditions attached to our offering this service:
You provide us with the following:
- The name and address of the debtor and amount outstanding;
- Copies of the relevant invoice(s), any statement(s) and signed terms with the debtor;
- Your terms of payment if this is not evident from the invoice i.e. is contractual interest included? Do you have Terms of Business/a contract/letter of engagement signed by the debtor? If you do, please forward that too;
- If a payment(s) has been made since the invoice(s), tell us the amount(s) and date(s) received;
- The Initial Fixed Fee (see Debt Recovery Service - Terms and Conditions);
- Regarding the debtor:-
- If the debtor is an individual - tell us the full name of the debtor if known, and provide us with as much personal information as possible, including D.O.B., who the debtor is employed by; any bank details you may have for the debtor.
- If a trade name or a firm - give us the proprietor(s) full names, D.O.B., any bank details you may have, and if available residential addresses.
- If a Company - make sure we have the correct name, registered office address and address of trading if different. Where possible, the Company's registered number would also assist us.
- To comply with anti-money laundering legislation, we will also need from you:
- If you are a Company: a copy of the certificate of incorporation and the last annual return (which can be downloaded from Companies House), and unless you are an existing client of the firm, then we will also require confirmation of the identity of the instructing directors or officers, i.e. passport/photocard driver's licence and recent utility bill.
- If you are an Individual: proof of your identity (such as your passport/photocard driver's licence); and proof of your address (such as a utility bill dated within the last 3 months).
Please note: we need to see original documents. If you prefer, and if you are an individual, you can use the "Document Certification Service" service operated by the Post Office, which charges £10.50 for that service.
In return, we will keep you updated at each stage of the process.
Our aim is to recover the outstanding debt due to you or your business with as little stress, cost and inconvenience to you as possible.
We have a very good track record of recovering debts from unwilling and uncooperative debtors and extremely proud of our many achievements, but you should note that success is always subject to the debtor's ability to pay.
Contact our Debt Recovery Solicitors in Yorkshire
To find out more about our debt recovery services and how we can help you, call us today on 01653 692247 (Malton) or 01904 716000 (York) or 01937 583210 (Wetherby), or complete our online enquiry form.