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Fees

This section gives you more of an understanding of the fees you may be required to pay should you choose to instruct Hodgkinsons Solicitors to assist with a Debt Recovery matter of up to £100,000.00.

We want to provide you with all the necessary information you need to be able to make an informed decision about who your legal representatives will be.

Our Dispute Resolution Department charge both hourly rates and fixed fees for Debt Recovery matters. Fees are dependent on the size and nature of the Debt in question. Please see the table below which sets out our fee brackets for the Debt Recovery services we provide.

Service

 

Type of Fee

Fee

Letter Before Action to Debtor for Claims under £100,000.00

 

Fixed Fee

£250.00 + VAT (£50.00)

Preparation and Service of Statutory Demand

 

Fixed Fee

£250.00 + VAT (£50.00)

All work undertaken including:

 

Setting up a file

Initial meeting

Subsequent meetings

All letters

Communications

Review and drafting of documents

Hourly Rate

Sam Sleight - Chartered Legal Executive

 

£280.00 + VAT (£56.00)

 

Gemma Middleton - Paralegal 

 

£150.00 + VAT (£30.00)

The above table demonstrates our standard costs, however, these fees are subject to change to due several reasons such as the size the debt in question. Hodgkinsons Solicitors have the right to raise additional fees in addition to your fixed legal fees should one or more of these factors come to light.

The fees described do not include the following disbursements. Disbursements are the fees that are paid to third parties such as Counsel, Court and other third parties.

Instruction of Process Servers

 

£95.00 + VAT (£19.00)

Counsels Fees

 

In the region of £1,000.00 - £2,000.00 + VAT (£200.00 - £400.00)

Court Proceedings

 

In some cases, it may be necessary to go to Court therefore a Court fee will be payable. The Court fee is dependent on the value of the debt, please see the table below for the fee boundaries. This Court fee does not incur VAT.

 

 

Value of Claim

Court Fee

Up to £300

£35.00

Between £300 - £500

£50.00

Between £500 - £1,000

£70.00

Between £1,000 - £1,500

£80.00

Between £1,500 - £3,000

£115.00

Between £3,000 - £5,000

£205.00

Between £5,000 - £10,000

£455.00

Between £10,000 - £200,000

5% of the value of the claim

Greater than £200,000

£10,000.00

 

We have highlighted all the costs that are reasonably expected to be included in your quote, however, there are factors which may alter the quote during the course of a transaction such as the following:

Court Proceedings

 

In some cases, it may be necessary to go to Court therefore a Court fee will be payable. The Court fee is dependent on the value of the debt. This Court fee does not incur VAT.

 

What services are included in the displayed Debt Recovery fees and how long will it take?

The process which your Solicitor will undertake when dealing with a Debt Recovery matter of up to £100,000.00 is as follows:

  1. Write to the Debtor;
  2. Identify the most appropriate method of recovery;
  3. Issue Court Proceedings or Statutory Demands;
  4. Winding up Proceedings if necessary;
  5. Enforcement of Court Proceedings if necessary.

Our Team are always happy to give timescales on the anticipated completion of your matter but will do so on a bespoke basis as each transaction can be different due to the size of the debt involved. Recovery of debt can vary, it is either straightforward or lengthy. The timescale to complete the matter depends on the way in which the Defendant responds to the action taken. Completion may take between 3 – 18 months depending on whether Court proceedings are required. This includes allowing time for the Defendant to respond to the letter of claim (30 days) and to the Court Proceedings (14 days).

If you would like more information about the experience and qualifications of our Dispute Resolution Team who will carry out your work, please visit the personal profiles of:

All work carried out by trainees or other unqualified members of staff will be supervised by a senior/qualified Lawyer. 

If you would like more information on the range of matters our Dispute Resolution Team can assist with visit https://www.hodgkinsons.co.uk/dispute-resolution where you can also fill out a contact form to request a member of our Department to contact you about your query. Alternatively, you can call 01754 897150 and a member of the Team will be happy to assist you. At Hodgkinsons we have the ability to advise you on your matter whether you are located in Skegness, Boston, Sleaford, Lincoln, Scunthorpe, Grimsby, rural Lincolnshire or even further afield.