Debt Recovery Services

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Ezra Stanley
10 years ago
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1 Debt Recovery Services We recognise the importance of effective credit control; however we also recognise that this can be a complicated and time consuming process that individuals and businesses often do not have time for. Our fixed fee debt recovery service for uncontested debts provides not only certainty in relation to the costs involved in taking legal action, but with advice and assistance from specialist solicitors, your chances of recovering any outstanding uncontested debts could be greatly improved. What do we do? Pre- Action It is important always to carry out early investigations before proceedings are issued. Depending on the circumstances of your case, initial Companies House searches and Insolvency Services searches can be carried out without charge. Where we believe it necessary, additional Land Registry searches, credit checks and detailed Companies House searches can be carried out for an additional fee. We may also recommend that agents be instructed to track and trace a debtor, however we will always tell you how much this will cost in advance. Letter Before Action If you decide that you wish to pursue a debtor, we will prepare a fully compliant letter before action at a fixed cost. Court Proceedings If the debt is not paid within 14 days of a letter before action being sent and we have heard no further from the debtor, we will prepare and issue court proceedings on your behalf. Judgment If the debtor does not respond to the claim, or admits the debt, you will be entitled to apply for judgment in default. We will request this judgment on your behalf. Enforcement Once you have obtained a judgment we will advise you in relation to the options that are available to enforce the judgment and receive payment. We will also advise you on what we believe to be the most effective way of enforcing any judgment.

2 Debt Recovery Standard Charges Pre Action Basic Companies House search - No charge Basic Insolvency service search - No charge Detailed Companies House search * Land Registry Search * Credit Check and Tracing Services To be confirmed on a case by case basis Letter before action *charges as at 1 st June subject to change Preparing and Issuing County Court Proceedings Preparing and Issuing proceedings for an uncontested debt:- Amount of Debt Our Fee ( ) Court Fee ( )* , , , , , , , , , , , , , , , , , , , , , , , Over 300, , Judgment Fees in obtaining a judgment in default - including judgment in acknowledgment of service, judgment in default of filing a defence and judgment on an admission or part admission whether the debtor s proposals are accepted by you or not:- Amount of Judgment Our Fee ( ) , , , , , , , Over 50, To be agreed

3 Enforcement Enforcement Method Our Fees ( ) Disbursements Considering and advising in relation to the most appropriate methods of enforcement Attachment of Earnings Court fee Order Third Party Debt Order up to and Court fee including first hearing Charging Order up to and Court fee (uncontested) including first hearing Warrant of Execution via Court fee County Court bailiff where judgment does not exceed 5, Writ of fi fa via High Court Sheriff where judgment debt exceeds Court fee Sheriffs fee to be confirmed Application for debtor to attend court to provide information court fee to issue application and further court fee of for bailiff to serve order on debtor Statutory Demand Agent fee for service of demand on debtor to be confirmed. Bankruptcy Petition (uncontested). Application to make an insolvent individual bankrupt where judgment debt exceeds Winding up Petition (uncontested). Application to place an insolvent company into liquidation where judgment debt exceeds Court fee Official receivers deposit and agent fees for service of Petition to be confirmed Court fee Official receivers deposit, agent fee and London Gazette advertisement fee to be confirmed. Our fees outlined above are as at 1 st June 2011 and are subject to change. All charges are exclusive of VAT which should be added at the prevailing rate. Certain disbursements (such as court fees) do not attract VAT. Court and agent s fees quoted above are also subject to change.

4 Bankruptcy or Winding Up Petitions for an amount exceeding 50, are not included within the figures quoted above and an estimate of costs will be provided on a case by case basis. We reserve the right to charge additional fees if attendance at any hearing is necessary. In the event that our attendance is necessary we will provide an estimate of our charges in advance or an estimate of any counsel or agent s fees. We may request payment on account of our fees at the outset of any matter and will require payment of court fees and other disbursements in advance. For further information regarding our Fixed Fee Debt Recovery Service please contact Liam Connolly on or [email protected]

Debt Recovery Scheme. a helping hand. www.salaw.com

Debt Recovery Scheme. a helping hand. www.salaw.com Debt Recovery Scheme a helping hand www.salaw.com www.salaw.com 2 We understand that chasing debtors can be complicated, frustrating and time-consuming We recognise the importance of credit control and