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Debt Recovery Services for Businesses

Recover your outstanding debts as quickly as possible

We will provide you with a bespoke debt recovery service, tailored to your needs. Our clients, who range from PLCs to individuals, tell us that personal service is the key to our success. We take time to understand your specific needs and objectives.

We deal with the total debt recovery process  from commencement of money claims, obtaining judgment; enforcement to all related insolvency issues.

If the debt claim becomes defended we will deal with the issues on your behalf. We will explain the cost implications. We will advise on merits and try to reach  a commercial settlement. No jargon. No hidden fees.

Once instructed we will write to the debtor on the same day instigating the claim.

LCF Law Solicitors | Leading Legal 500 firm 2020Legal Directory LEGAL 500 (2020 Edition) has this to say about our Debt Recovery Team

“The commercial business debt recovery team at LCF Law assists its client roster, which ranges from SMEs to large plcs, with a range of claims, from commencement of collection proceedings to the enforcement of judgments and insolvency issues. It has particular experience advising on the recovery of debt arising from contracts in the construction industry. Andrew Langton heads up the team.”

We have an experienced team who can assist you with recovering both disputed and undisputed debts. This page covers our pricing for undisputed debt recovery – please get in touch to find out more about our fee structure for pursuing disputed debts. We pride ourselves on exceptional customer care skills enabling you to send out the right message and retain the goodwill of your customers whilst recovering outstanding payments.

We can offer you clear, practical advice and will discuss all the options available to establish the most appropriate way of dealing with debtors. We have tried and tested processes in place to ensure we can recover undisputed debts quickly, efficiently and cost-effectively, with transparent fixed fees.

LCF Law Solicitors | Leeds | Bradford | Harrogate | Ilkley | Lexcel Accreditation | We are proud to hold the Lexcel Accreditation issued by the Law Society. This involves the firm undergoing a rigorous audit process which ensures we maintain the highest levels of client care.

 

We appreciate that the fees involved in debt recovery are important to you. We review our fees on a regular basis, considering client’s feedback, to ensure we continue to offer a cost-effective debt recovery service.

If during the debt recovery process, the matter becomes disputed or enforcement action is required (where you need to appoint a bailiff), we will discuss the change in fees with you and agree a way forward.

When claiming costs from the debtor, it is important to note that the VAT element of any fees cannot be claimed.

You can claim interest and compensation and we will advise you of the applicable rates.

ItemRange of Costs
Letter before action£25.00 plus VAT, i.e. £30
Commission on recoveries.12%  plus VAT

On issue and conduct of proceedings through the Central Court Centre we will include in the claim the court fixed costs in accordance with those set out in Part 45 of the Civil Procedure Rules for all proceedings and methods of enforcement undertaken and relevant court fees or disbursements. These will be payable by you to us if not collected from the debtor.

In addition to the fixed costs and relevant court fees or disbursements we charge set fees for the following actions and enforcement:

ItemRange of Costs
Application to suspend or vary £45.00 plus VAT, i.e. £54
Attachment of Earnings Order£100.00 plus VAT, i.e. £120
Charging Order£150.00 plus VAT, i.e. £180
Removal of Charging Order£50.00 plus VAT, i.e. £60
Third Party Debt Order £150.00 plus VAT, i.e. £180
Set Judgment aside (without notice) £50.00 plus VAT, i.e. £60

Insolvency:

Statutory Demands

Our charge is £125.00 plus VAT, i.e. £150, together with the disbursement costs of the process server.

Bankruptcy and Winding up Petitions

Bankruptcy and Winging up Petitions fixed fee of £750.00 plus VAT, i.e. £900 and disbursements.

Defended actions

Charges for work on Defended claims are at the hourly rate of £200.00. If any matters become disputed we will contact you and set out your options, the likely costs, the cost benefit and the potential timescale to conclusion.

To enable you to monitor and budget for costs, we shall deliver bills to you regularly, usually at monthly intervals. Invoices become due and payable 14 days from the date of issue.

There may be factors which would typically increase the cost of the fees. Where there is likely to be any additional cost, we will make sure you are informed of this at the earliest opportunity and a clear estimate of those extra costs will be provided.

Factors that may lead to an increase in cost include:

  • Enforcement proceedings
  • Instructing a Bailiff

A typical debt recovery is always dependant on the the letter before claim being responded to from the other side.

This may be quicker or longer depending on whether we are required to issue a claim and whether the other side pay promptly on receipt of any Judgment issued by a court. As detailed above, if enforcement action is required, we will discuss the fees and timescales involved.

With every transaction there are key milestones, which may vary according to individual circumstances. Our fee will include these milestones and may be as follows:

  • Taking your instructions and reviewing documentation
  • Undertaking appropriate searches
  • Issuing a letter before action requesting payment from the debtor
  • Receiving payment and sending this on to you
  • Drafting and issuing a claim form to the relevant court if the debt is not paid
  • Applying to the court to enter a Judgment in Default if the debtor fails to respond to court proceedings
  • Contacting the other side to request payment where a Judgment in Default has been issued by the court

We are committed to providing a high quality legal service to all our clients. When something goes wrong, we need you to tell us about it. This will help us to improve our standards.

If you have a complaint about our delivery of debt recovery for businesses services our complaints policy will assist you with who to contact and enable you to understand the procedure that will be followed.




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Our team

Andrew Langton

Department head Andrew Langton has ‘commercial experience and excellent insolvency knowledge that is second to none paired with client relationship skills that build a real trusted-pair-of-hands feel’ – Legal 500 (2019)