No two litigation cases are the same as the facts in each case are particular to people and businesses involved (1). However when dealing with matters relating to debt recovery up to £100,000 to undertake the initial work which includes:
If the case is very straightforward and the papers are limited then less time may be needed than the 5 hours referred to.
As our Solicitors and fee earners have different levels of experience and hourly rates the professional charges will vary depending upon fee earner involved. An average hourly rate for the department is £170 plus VAT per hour but this varies From £110 to £330 per hour plus VAT depending on the experience of each fee earner.
On average hourly rates and an estimated average of time to be taken the cost to undertake the work referred to above would be £2,125 plus VAT, (£170 per hour and 12.5 hours charged).
If you then decide to issue proceedings through the courts, you would also be required to pay court fees of 5% of the total sum claimed to a maximum fee of £10,000.
If as part of that process it is appropriate and agreed with you to instruct a Barrister then this disbursement or fee for his/her services will negotiated in advance and will again depend on levels of experience.
Our further costs for instructing Counsel and assisting with the preparation of the claim to be issued would again be between 5 and 15 hours as an average, an average charge using the average rate of £170 per hour plus VAT of £1,700 plus VAT.
It is not possible to estimate the total fees payable for the reason as stated above (1) although they can range from less than £5,000 plus VAT if it is a straightforward matter or no defence is filed to sums exceeding in rare situations £100,000 plus VAT.
Senior AssociateDispute Resolution
Head of Insolvency & Corporate RecoveryDispute Resolution
Senior Partner & Head of Commercial LitigationDispute Resolution
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We take you through the steps to recover debt owed to your business.