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.
At Tilly Bailey & Irvine, we believe in setting out exactly what we will do from the beginning and will keep you regularly informed. We can help you minimise the cost and disruption of chasing a debt, by providing immediate help for clients on a fixed fee basis*.
We charge a one-off administration fee of £25 plus VAT (at 20%)
To complete the necessary formalities involved in opening a file for you, including ID checks, and providing terms of business.
Compliance with Pre-Action Protocol £175*
Initially we will review your documentation, any previous correspondence and / or invoices, calculate interest and advise in order to ensure compliance with the relevant Pre-Action Protocol. Pre-Action Protocols are rules set by the Court which you are obliged to follow before issuing a claim at Court.
Letter Before Action - £30*
We will draft an initial Letter Before Action to a Debtor to advise that if a response or the outstanding sum is not received in accordance with the relevant Pre-Action Protocol, then proceedings will be issued for recovery of the debt.
We can also negotiate with the debtor on your behalf in order to attempt to achieve settlement. Our fees for this will be charged on an hourly rate and discussed with you on an individual basis.
If the outstanding debt is for £5,000 or more, we can advise as to whether it is possible to serve a Statutory Demand on the debtor and the merits of issuing a Bankruptcy Petition where the debtor is an individual. If the debtor is a company and the debt exceeds £750, we can advise you whether a Winding Up Petition is appropriate.
We will draft proceedings on your behalf to commence a claim for recovery of the debt, subject to no dispute having been raised following pre-action correspondence.
We can obtain Judgment in default if the proceedings are undefended, or no response is received. This can often result in payment of the debt being obtained. Should the claim be disputed by the debtor, then we can assist and provide advice going forward. Additional fees will be charged at our usual hourly rates. Estimates will be provided on an individual basis.