Debt Recovery and Asset Tracing
Debt Recovery and Asset Tracing Solicitors, London. International.
We at KaurMaxwell understand the difficulty in chasing individuals or businesses for any monies owed to you. Our expertise in balancing the risk between the impact of bad debts against the cost of recovery allows us to provide exceptional, bespoke service.
The hourly rates of our team;
- Partner – £350.00 – £550.00 (plus VAT)
- Senior Associate – £290.00 – £450.00 (plus VAT)
- Junior Associate – £250.00 (plus VAT)
- Second Year Trainee – £200.00 (plus VAT)
- First Year Trainee – £180.00 (plus VAT)
- Paralegal – £165.00 (plus VAT)
Generally, for recovery of an undisputed debt for a value under £100,000.00 we would charge in the region of £2,500.00 – £15,000.00 plus VAT (excluding enforcement and any post judgment work, e.g. winding up or bankruptcy.
Our fee includes;
- Taking your instructions and reviewing documentation
- Undertaking appropriate searches
- Sending a letter before action
- Receiving payment and sending onto you, or if the debt is not paid, drafting and issuing the claim
- Where no Acknowledgment of Service or Defence is received, applying to the Court to enter a Judgment in Default
- If the debt has not been collected within a reasonable period (not less than 30 days), we will provide you with advice on next steps and likely costs
Please see below a non-exhaustive list of the disbursements you may need to pay in order to recover a debt:
- Process Server fees
- Court fees
- Photocopying fees
- Counsel’s fees
Depending on the value of the debt (and whether it is disputed or not), we may wish to instruct counsel on your behalf (and with your approval) to assist with tasks such as drafting pleadings and conducting advocacy in the courtroom.
For undisputed debts, the best first step will often be to serve a statutory demand on the debtor. We will usually instruct a process server to serve the statutory demand. Typically, process server’s fees will be in the region of £100.00 – £200.00 plus VAT.