SRA Transparency Rules
| Debt Recovery Claims
About
Quinta Law LLP is required by the Solicitors Regulation Authority to publish costs information in relation to a number of specified services. For information relating to the full range for practice areas we offer, please click here. This note is intended to provide potential business clients with information about our charges when engaging our Debt Recovery Team to assist in recovering an undisputed debt of up to £100,000. When you instruct us, our retainer letter will provide more details on the scope/nature of our work/instruction and what you can expect as the claim progresses.
Please note that no two matters contain the same factual matrix and the work which we are required to undertake will differ in every case. When we are instructed, we will provide a costs estimate which will include details of our anticipated fees, together with any disbursements which we expect to incur on your behalf in connection with the matters. For example, Court fees, Barristers’ fees or Experts’ Fees. We will also provide regular costs updates as the matter progresses. The information set out below is therefore only an indicative guide to the fees which you are likely to incur.
The Debt Recovery Process
The information set out below is intended provide an initial guide of the steps we may be required to undertake if we are instructed to seek recover of a straightforward undisputed debt for businesses, including obtaining Judgment in default against the debtor. The precise steps/stages involved in the process and the work which are required to undertake will vary according to the specific facts and circumstances of the dispute, but typically will include;
- taking your instructions, reviewing the relevant documentation, undertaking appropriate searches and drafting a letter before action in accordance with the Practice Direction on Pre-Action Conduct and dealing with initial correspondence sent by the debtor in response to the letter before action. The Practice Direction can be found here and identifies the steps/process the Court normally expects parties to carry out prior to commencing Court proceedings;
- in the event the debtor fails to respond to the letter before action or the response is unsatisfactory and the debt remains unpaid, we will prepare draft proceedings which will be issued at Court and subsequently served on the debtor. Once Court proceedings are served, the debtor will have 14 days to file an acknowledge of service and a further 14 days to file and serve a defence disputing the debt.
If the debtor fails to acknowledge service and/or fails to file and serve a defence we can apply to the court to enter Judgment in default. Once Judgment in default is received, we will write to the debtor to request payment of the Judgment debt. It is not possible to provide a realistic timetable for resolving the claim as it is depends on how the debtor responds to the dispute. In usual circumstances, if Court proceedings are not necessary, the dispute may be concluded within 3 – 8 weeks. In the event Court proceedings are necessary, the dispute could take approximately 3 – 6 months to revolve.
As explained above, we will provide you with regular time and costs estimates at the matters progresses.
Disbursements
Disbursements are payments which we make to third parties arising in the course of providing our services. For recovery of a straightforward undisputed debt, the only disbursement you will likely incur is a Court fee which is payable upon the issue of proceedings. The table below sets out the applicable fee payable to the Court, which is calculated on the amount of the debt, plus the interest element of your claim. Court Fees do not attract VAT.
Fee payable | |||||
Value of your claim | Court issued claim | Filed via SDT/MCOL | |||
Up to | £300 | £35 | £25 | ||
Greater than | £300 | but no more than | £500 | £50 | £35 |
Greater than | £500 | but no more than | £1,000 | £70 | £60 |
Greater than | £1,000 | but no more than | £1,500 | £80 | £70 |
Greater than | £1,500 | but no more than | £3,000 | £115 | £105 |
Greater than | £3,000 | but no more than | £5,000 | £205 | £185 |
Greater than | £5,000 | but no more than | £10,000 | £455 | £410 |
Greater than | £10,000 | but no more than | £15,000 | 5% of the value of the claim | 4.5% of the value of the claim |
Greater than | £15,000 | but no more than | £50,000 | ||
Greater than | £50,000 | but no more than | £100,000 | ||
Greater than | £100,000 | but no more than | £150,000 | N/A | |
Greater than | £150,000 | but no more than | £200,000 | N/A | |
Greater than | £200,000 | £10,000 | N/A |
Insolvency Proceedings
In some cases, it may be appropriate to follow an insolvency process rather than issuing proceedings at Court. This route is only available for debts over certain levels (over £750 for a company or over £5,000 for an individual). If a statutory demand, followed by an insolvency process, is considered appropriate to your case, we will provide an estimate of costs and explain the process to you.
Hourly Rates
Our fees will be primarily based on the time spent by us in carrying out your instructions and our current hourly rates are as follows (excluding VAT at the prevailing rate – currently 20% – which will be charged in addition):
Level of Expertise Partner |
Rates exclusive of VAT From £325 to £425 per hour |
Paralegal | From £125 per hour |
For further information please contact Oliver Kenner (Partner) on 020 3326 6422 or by email: oliver@quinta.law.
| Debt Recovery Claims
About
Quinta Law LLP is required by the Solicitors Regulation Authority to publish costs information in relation to a number of specified services. For information relating to the full range for practice areas we offer, please click here. This note is intended to provide potential business clients with information about our charges when engaging our Debt Recovery Team to assist in recovering an undisputed debt of up to £100,000. When you instruct us, our retainer letter will provide more details on the scope/nature of our work/instruction and what you can expect as the claim progresses.
Please note that no two matters contain the same factual matrix and the work which we are required to undertake will differ in every case. When we are instructed, we will provide a costs estimate which will include details of our anticipated fees, together with any disbursements which we expect to incur on your behalf in connection with the matters. For example, Court fees, Barristers’ fees or Experts’ Fees. We will also provide regular costs updates as the matter progresses. The information set out below is therefore only an indicative guide to the fees which you are likely to incur.
The Debt Recovery Process
The information set out below is intended provide an initial guide of the steps we may be required to undertake if we are instructed to seek recover of a straightforward undisputed debt for businesses, including obtaining Judgment in default against the debtor. The precise steps/stages involved in the process and the work which are required to undertake will vary according to the specific facts and circumstances of the dispute, but typically will include;
- taking your instructions, reviewing the relevant documentation, undertaking appropriate searches and drafting a letter before action in accordance with the Practice Direction on Pre-Action Conduct and dealing with initial correspondence sent by the debtor in response to the letter before action. The Practice Direction can be found here and identifies the steps/process the Court normally expects parties to carry out prior to commencing Court proceedings;
- in the event the debtor fails to respond to the letter before action or the response is unsatisfactory and the debt remains unpaid, we will prepare draft proceedings which will be issued at Court and subsequently served on the debtor. Once Court proceedings are served, the debtor will have 14 days to file an acknowledge of service and a further 14 days to file and serve a defence disputing the debt.
If the debtor fails to acknowledge service and/or fails to file and serve a defence we can apply to the court to enter Judgment in default. Once Judgment in default is received, we will write to the debtor to request payment of the Judgment debt. It is not possible to provide a realistic timetable for resolving the claim as it is depends on how the debtor responds to the dispute. In usual circumstances, if Court proceedings are not necessary, the dispute may be concluded within 3 – 8 weeks. In the event Court proceedings are necessary, the dispute could take approximately 3 – 6 months to revolve.
As explained above, we will provide you with regular time and costs estimates at the matters progresses.
Disbursements
Disbursements are payments which we make to third parties arising in the course of providing our services. For recovery of a straightforward undisputed debt, the only disbursement you will likely incur is a Court fee which is payable upon the issue of proceedings. The table below sets out the applicable fee payable to the Court, which is calculated on the amount of the debt, plus the interest element of your claim. Court fees do not attract VAT.
Fee payable | |||||
Value of your claim | Court issued claim | Filed via SDT/MCOL | |||
Up to | £300 | £35 | £25 | ||
Greater than | £300 | but no more than | £500 | £50 | £35 |
Greater than | £500 | but no more than | £1,000 | £70 | £60 |
Greater than | £1,000 | but no more than | £1,500 | £80 | £70 |
Greater than | £1,500 | but no more than | £3,000 | £115 | £105 |
Greater than | £3,000 | but no more than | £5,000 | £205 | £185 |
Greater than | £5,000 | but no more than | £10,000 | £455 | £410 |
Greater than | £10,000 | but no more than | £15,000 | 5% of the value of the claim | 4.5% of the value of the claim |
Greater than | £15,000 | but no more than | £50,000 | ||
Greater than | £50,000 | but no more than | £100,000 | ||
Greater than | £100,000 | but no more than | £150,000 | N/A | |
Greater than | £150,000 | but no more than | £200,000 | N/A | |
Greater than | £200,000 | £10,000 | N/A |
Insolvency Proceedings
In some cases, it may be appropriate to follow an insolvency process rather than issuing proceedings at Court. This route is only available for debts over certain levels (over £750 for a company or over £5,000 for an individual). If a statutory demand, followed by an insolvency process, is considered appropriate to your case, we will provide an estimate of costs and explain the process to you.
Hourly Rates
Our fees will be primarily based on the time spent by us in carrying out your instructions and our current hourly rates are as follows (excluding VAT at the prevailing rate – currently 20% – which will be charged in addition):
Level of Expertise Partner |
Rates exclusive of VAT From £325 to £425 per hour |
Paralegal | From £125 per hour |
For further information please contact Oliver Kenner (Partner) on 020 3326 6422 or by email: oliver@quinta.law.
© 2023 | Quinta Law LLP | Privacy Policy | Terms of Use | SRA Transparency Rules | Complaints
| Get in Touch
Quinta Law LLP
1 Giltspur Street
London EC1A 9DD
020 3002 9500
hello@quinta.law
| Get in Touch
Quinta Law LLP
1 Giltspur Street
London EC1A 9DD
020 3002 9500
hello@quinta.law
© 2023 | Quinta Law LLP | Privacy Policy | Terms of Use | SRA Transparency Rules | Complaints