Debt recovery

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How can we help you?

Contact us for a free initial telephone consultation and arrange your free debt recovery health check.

Stephensons’ dedicated debt department advises clients ranging from asset based finance companies to large corporate to private individuals. Our services include:

  • Debt recovery for business
  • Debt recovery for private individuals
  • Debt recovery for financiers
  • International debt recovery

Click here to fill in our debt recovery instruction form to start the debt recovery process.

Debt recovery - what does it cost?

These costs apply where your claim relates to an unpaid invoice or invoices which are not disputed and enforcement action is not needed. If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs which might be on a fixed fee or an hourly rate. The fixed fees set out below do not include giving you any advice about your claim.

Stage 1

Is it a company debt or individual/sole trader?

Company - letter before action: £15 plus VAT

Individual/sole trader - letter of claim: £50 plus VAT

International - letter before action: £50 plus VAT

Letters before action sent to companies usually require the debtor to pay within 14 days, but letters to individuals provide for a 30 day period in accordance with guidelines laid down by the court and the time limit for payment in international letters before action may vary.

Stage 2

Court claims - issue claim

DebtCourt feeStephensons' fee
Up to £300£35£90 plus VAT
£300 - £500£50£90 plus VAT
£500 - £1,000£70£110 plus VAT
£1,000 - £1,500£80£150 plus VAT
£1,500 - £3,000£115£150 plus VAT
£3,000 - £5,000£205£150 plus VAT
£5,000 - £10,000£455£170 plus VAT
£10,000 - £200,0005% of claim£260 plus VAT

   

Anyone wishing to proceed with a claim should note that interest and compensation may take the debt into a higher banding with a higher cost

Once the court has served the claim a debtor has 14 days in which to file a defence or enter an acknowledgement. After the 14 day period has expired a request can be made to the court for judgment to be entered providing the debtor has not filed an acknowledgement or a defence.

Request judgment - £50 plus VAT

If judgment is obtained but not paid then further action will be required to enforce payment.

Timescale: It usually takes the court about 10 working days to enter judgment following receipt of a request to enter judgment.

Additional services if necessary

Price alongside service is for our legal fees, related third party costs may also be payable for specific services.

Writ of control - £60 plus VAT otherwise known as instructing a High Court Enforcement Officer to seize goods in satisfaction

Related third party costs

  • Court fee - £66
  • HCEO fee - £90 payable if the warrant is not successful

Timescale: A writ of control may be applied for once judgment has been obtained but whether or not any recovery will be made depends on the debtor’s ability to pay and whether there are any assets which may be seized and whether a repayment agreement is entered into.  A typical enforcement by writ of control may take about 8-12 weeks from instruction. If we are required to enter into correspondence about the enforcement then the matter will no longer be treated as a fixed fee enforcement and additional charges will apply based on the applicable hourly rate set out in our retainer letter to you.

Warrant of execution - £60 plus VAT

Related third party costs

  • Court fee - £110

Timescale: A warrant of execution may be applied for once judgment has been obtained but whether or not any recovery will be made depends on the debtor’s ability to pay and whether there are any assets which may be seized and whether a repayment agreement is entered into.  A typical enforcement may take about 8-12 weeks from instruction. If we are required to enter into correspondence about the enforcement then the matter will no longer be treated as a fixed fee enforcement and additional charges will apply. These charges will be based on an hourly rate set out in our retainer letter to you.

Issue of statutory demand for companies and individuals - £150 plus VAT

Related third party costs

  • Process server fee - up to £150 plus VAT

Timescale: A statutory demand should only be made where the debt is not disputed for example where there is a judgment or an admission that the debt is due. A statutory demand can be prepared on receipt of instructions and is then usually sent to a process server for personal service. Personal service generally takes about 2-3 weeks via a process server.

Bankruptcy proceedings - £750 plus VAT

This is applicable to cases where the matter is determined at the first hearing, there are no issues with regards to service and is only applicable in cases whereby the debt is not disputed or if a court judgment has been obtained which has not been set aside or appealed.  

Related third party costs

  • Process server - up to £150 plus VAT
  • Court fee - £280
  • Deposit - £990
  • Agent for hearing - depends on location
  • Search fee - £11

Time scale: A bankruptcy order can usually be obtained within about 8-12 weeks of the petition being issued by the court.

Winding up - £1,000 plus VAT

This is applicable to cases where the matter is determined at the first hearing and is only applicable in cases whereby the debt is not disputed or if a Court judgment has been obtained which has not been set aside or appealed.  

Related third party costs

  • Court fee - £280
  • Petition deposit - £1,600
  • Process server - up to £150 plus VAT
  • Agent fees for hearing- depends on location
  • Advertisement in London Gazette - £101.52

Time scale: A winding up order can usually be obtained within about 8-12 weeks of the petition being issued by the court.

Attachment of earnings - £150 plus VAT

This is applicable in cases where the attachment of earnings is obtained without a hearing or further applications/revisions to deal with debtors who have not been found or their employment has changed. 

Related third party costs

  • Court fee - £110

Time scale: An attachment of earnings order can sometimes be obtained within about 6-8 weeks of the application for an attachment of earnings order being issued by the court.

Charging order - £350 plus VAT (excluding hearing)

Related third party costs

  • Court fee - £110
  • Agent’s fee for attendance at court if necessary - depends on location
  • Registration of charging order - £40
  • Search fee - £11

Time scale: An interim charging order can sometimes be obtained within about 2-3 weeks of application being made to court.  The timescale for the final charging order will depend upon whether the debtor files an objection and if the Court lists the case for a hearing.  Without any objections or a hearing it would be a further 4-6 weeks.

Third party debt order - £250 plus VAT

Related third party costs

  • Court fee - £110
  • Agents fee for hearing - depends on location

Time scale: A third party debt order can sometimes be obtained within about 8-12 weeks of the application being issued by the court.

Order that debtor attends court for questioning/oral examination - £250 plus VAT

Related third party costs

  • Court fee - £55
  • Agent fee for hearing if required - depends on location
  • Process server - up to £150 plus VAT

Time scale: The debtor will usually be required to attend court for questioning within about 8-12 weeks of the application being made.

What qualifications do the team hold?

All debt recovery work is supervised by a qualified solicitor. Specific experience can be seen in the individual staff profiles.

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Debt recovery reorder

  • Jonathan Chadwick
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