Debt Recovery and Litigation Service. April 2015

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1 Debt Recovery and Litigation Service April

2 OUR DEBT RECOVERY AND LITIGATION SERVICE Our aim is to give the best possible service as simply and efficiently as possible...that s where we come in Maria Koureas-Jones, Director Breeze & Wyles Solicitors Ltd UK s Debt Recovery Firm of the Year 2013 and 2014 awarded by: OUR STATISTICS 75% of debts paid within 28 days of the Issue of Court Proceedings* 97% of our clients provide us with repeat instructions* *correct at the time of update OUR DEBT RECOVERY AND LITIGATION SERVICE Breeze & Wyles Solicitors Limited offers a Fixed Fee Debt Recovery and Litigation Service for those debts that remain unpaid despite exhaustion of your internal credit control function. Key Points plus VAT for a letter before action. Transparent fixed fees. We will keep you fully informed as your claims progress. Our team are friendly and approachable. Our experienced, qualified and specially trained team will advise you on: The best tactical approach to adopt Enforcement of your Judgment what is the best way to obtain payment from your debtor? Easy Instruction allows our service to be used promptly following exhaustion of your internal credit control function. We have established relationships with good quality tracing agents and asset enquiry agents these relationships help increase your chances of a successful recovery.

3 Our specialist defended team will advise you should your debtor raise a defence ensuring that you are able to make informed decisions at every stage. FIXED COST PRICING STRUCTURE Before Court proceedings Letter Before Action ( LBA ) With or without interest County Court Proceedings Claim Amount Our Fee Court Fee , ,000 1, ,500 3, ,000 5, ,000 10, ,000 50, % of the claim value 50, , % of the claim value You can claim the Court fee and also fixed costs from your debtor. The fixed costs recoverable between issue of proceedings and Judgment in default are as follows: Claim amount Fixed Costs Less than 500, , ,000 5, More than 5, Judgment If the debtor fails to file an acknowledgement of service or defence, we will request judgment in default on your behalf. The fixed costs recoverable on applying to enter Judgment are as follows: Claim amount Fixed Costs Default of acknowledgment of service: Less than 5, More than 5, Default of Defence: Less than 5, More than 5, Defended Cases We have an experienced defended team to advise you where your debtor defends your claim who will charge on the following hourly rates: Level of fee-earner Hourly rate Paralegal/Trainee Solicitor Solicitor/Chartered Legal Executive Enforcement There are various methods of enforcement. We will work with you to establish the best method of enforcement in your case and provide you with the fees of the same upfront. Statutory Demand Summary Our Fee Drafting Demand There will be a process server s fee of plus VAT payable so that we can arrange for personal service of a Statutory Demand. You can claim our fees for drafting the statutory demand from your debtor. If the debt is disputed after a Statutory Demand, we will charge in accordance with the fee-earner s hourly rate. Further details are available on request.

4 1. VAT that is payable on your fees unless indicated above. VAT is not recoverable from the debtor however, you may be able to recover VAT, if you are VAT registered. 2. Our costs are not contingent on full payment being made by the debtor. 3. All disbursements will be payable in advance. 4. Our invoice payment terms are 14 days from delivery of invoice. 5. We will always advise you of the cost before carrying out any work on your behalf. For further information regarding our Debt Recovery Service, please contact Rita Wright: / or Maria Koureas-Jones: / For further information on our team, or the firm, please visit:

5 Debt Recovery and Litigation Service - Instruction Sheet To: Rita Wright ([email protected]) Telephone Number: Fax Number: We would like to instruct you to issue letters before action on the attached invoices in accordance with the Debt Recovery Proposal. Your Company Name: Your Company Address: Contact Name: Telephone Number: Address: Debtor s details: Legal Entity of the Debtor (please circle): LLP / Limited Company / Sole Trader / Consumer Debtor s Full Name: Debtor s Address (this is where the letter will be sent): Date of Invoice: What are your terms of payment? (30 days etc) How much is outstanding? If the debtor has part-paid an invoice, please ensure you send us full details of previous payments; e.g. date and amounts Does the debt relate to a construction matter? Yes No

6 There are 3 ways you can claim interest on a debt. Please ensure that you tick a box below if you do require interest, otherwise interest will not be claimed; 1. If you are a business and your debtor is a business you are entitled to claim interest and compensation under the Late Payments of Commercial (Interest) Act 1998 which is 8% above base rate on all invoices which are overdue. Please ensure that you forward us copies of the outstanding invoices. 2. If your debtor is a consumer (not a business) you are only entitled to charge interest on outstanding invoices when you issue proceedings at the rate of 8% under s69 County Court Act If your terms and conditions provide for interest to be paid on outstanding invoices, then interest should be calculated in accordance with your terms and conditions. If you wish us to calculate please provide a copy of these and we charge 25 plus VAT for checking these for you and calculating interest under the contract. Alternatively please confirm that you wish to claim interest under Late payment of Commercial (Interest) Act Tick as appropriate: The debtor is a business and I wish to claim interest and compensation under late payment. The debtor is a consumer. I wish to claim interest under my terms and conditions which are attached. I confirm that I instruct Breeze and Wyles Solicitors Limited to send a letter before action on my behalf/on behalf of the Company listed above. I acknowledge that it is my responsibility to ensure that the details in this form are correct as they will not be checked by Breeze and Wyles Solicitors Limited. Signed: Dated: