6.50 per 6 minutes engaged take instructions on how you want to proceed, and deal with any negotiations

Transcription

1 SRF Debt Price List A. Out of court debt recovery route Debts within the UK Debts outside the UK 9% of the sum recovered To be discussed on an individual basis B. The court route for undisputed debt 1) Pre-legal Action taken Our fee - s + VAT Letter before action submitted via on-line platform and sent by Free of charge Letter before action submitted via on-line platform and sent by post 3.50 Letter before action where you ask us to enter the case 20 In the event that a letter before action generates a response, we will advise on that response, 6.50 per 6 minutes engaged take instructions on how you want to proceed, and deal with any negotiations 2) Searches Action taken Disbursements - s Our fee - s + VAT Debtor search - 5 Instructing a tracing agent 40 + VAT 15 Winding up proceedings search - 10 Debtor asset search 40 + VAT 35 Property search (per title) ) Court proceedings in the county court Value of claim - s Court fee - s Our fee - s + VAT Notes 1) For claims in excess of 100,000 we will discuss this with you on an individual basis. Total amount recoverable within the proceedings - s ,001-25,000 5% of sum claimed 250 court fee ,001-50,000 5% of sum claimed 300 court fee ,001-75,000 5% of sum claimed 400 court fee , ,000 5% of sum claimed 500 court fee + 100

2 4) Acknowledgement of service After the service of proceedings we may receive an acknowledgement of service. This document gives an indication of the debtor s stance in relation to the claim. If we are served with an acknowledgement, we will process it and report it to you. Our charges for receiving, dealing with, processing and reporting on the acknowledgment of service Our fee VAT 5) Entering Judgment against the debtor If the proceedings are ignored or undefended then you are entitled to enter Judgment against the debtor. Our charges for entering Judgment are as follows: Amount of Judgment Our fee - s +VAT Total amount recoverable to be added to the Judgment - s Judgment where the debtor has not acknowledged the proceedings Judgment where the debtor has acknowledged the proceedings but has not submitted a defence Where the debtor files an admission on some or all of the debt and you accept the admission as full payment Judgment where the debtor files an admission including an offer to pay. You accept the admission but want the court to decide the rate of repayment Advice to you where the debtor files an admission, including an offer to pay, which you do not accept 6.50 per 6 minute call Amount of Judgment upwards Our fee - s +VAT Total amount recoverable to be added to the Judgment - s Judgment where the debtor has not acknowledged the proceedings Judgment where the debtor has acknowledged the proceedings but has not submitted a defence Judgement where the debtor files an admission of some or all of the debt and you accept the admission Judgment where the debtor files an admission including an offer to pay. You accept the admission but want the court to decide the rate of repayment Advice to you where the debtor files an admission, including an offer to pay, which you do not accept 6.50 per 6 minute call

3 6) Additional costs we may charge Quite often a debtor wants to enter into a payment plan as a result of the proceedings. Payments under an agreed plan can either be made via us or to you directly where you monitor and inform us if the plan is not adhered to. A debtor offering a payment plan, which we negotiate on your behalf, including taking instructions from you Court fees - s Letters sent on your behalf (negotiating and agreeing the plan) per 6 minutes engaged Telephone attendances (negotiating and agreeing the plan) per 6 minutes engaged Preparing court order (setting out the plan) If you decide you want us to process the payments on your behalf then we will charge: Debtor payment processing First payment 10 Subsequent payments 6.50 Dishonoured cheque 15 In the event that you decide that you wish to discontinue any court proceedings then we are obliged to file a notice of discontinuance 7) Enforcement There are various methods of enforcing a Judgment and we can advise on the appropriate way forward. Specific advice on the most appropriate form of enforcement Our fee VAT Method of enforcement Disbursements - s Recoverable fees which will be added to the judgment Issuing a warrant of execution to the county court bailiff - claims up to Instructing a High Court Enforcement Officer (HCEO) - claims over In the event The HCEO is unsuccessful Charging order Attachment of earning order Third party debt order Order to obtain information Insolvency see section D below 8) Defended action If the debtor submits a defence then the matter becomes contested. Action taken Dealing with a defence 45

4 9) Small claims costs In order to assist with small claims matters we package our services to you. You can therefore chose how much assistance you want in taking a case to a small claim hearing. These are applicable where there is no counter-claim. If a counter-claim is made then we will discuss the fees with you on an individual basis. Action taken To review the case and provide you an opinion 450 Filing directions questionnaire, and discussing with you negotiations and mediation 150 To receive directions from the court and advise on the case timetable 75 To prepare each witness statement and accompanying documents (per statement) 300 To prepare a court bundle 250 To represent you at the hearing 750 To continue with a defended claim the court service require the payment of a hearing fee, these are: Value of claim Hearing fee - s Up-to , ) Fast track claims Action taken Court fees - s The hearing fee payable to the court service Costs of acting for you - To be discussed on individual basis 11) Multi track claims Action taken Court fees - s The hearing fee payable to the court service 1,090 - Costs of acting for you - To be discussed on an individual basis 12) Notice of discontinuance In the event that you decide that you wish to discontinue any court proceedings then you are obliged to file a notice of discontinuance. Notice of discontinuance Our fee VAT

5 C) Disputed debt and commercial litigation route If you would like an opinion on the merits of a case, which involves a review of the relevant documentation and discussion of the relevant witness evidence, our costs are: Claim value Claims up to 10, Claims between 10,000 and 25, Claims between 25,000 and 100, Claims over 100,000 To be discussed on an individual basis If your case is disputed we will always provide you with an estimate of costs at the outset. Our current hourly charge out rates are as follows: SRF personnel Rate per hour - s + VAT Partners 250 Associate/senior solicitors 200 Solicitor 180 Trainee solicitor 120 Paralegal 100 Secretarial 100

6 D) Insolvency Company debtors Court/agents fee - s Issue a demand letter - 30 Prepare and serve a statutory demand VAT 80 Prepare a winding up petition Issue a winding up petition Serve a winding up petition VAT 40 Application for substituted service Attending hearing of substituted service application VAT 100 Advertise the winding up petition VAT 40 File certificate of compliance - 25 Dealing with the winding up hearing VAT 100 Filing notice of support - 50 Taking over conduct of existing petition Usually ordered to pay the deposit of 1660 Application to withdraw petition before advertisement Adjourned hearings (per hearing) VAT 100 Advice and negotiations per 6 minutes engaged 200 Personal debtors Court/agents fee - s Prepare and serve a statutory demand VAT 80 Prepare a bankruptcy petition Issue a bankruptcy petition Serve a bankruptcy petition VAT 40 Application for substituted service Attending hearing of substituted service application VAT 100 Dealing with the bankruptcy hearing VAT 100 Adjourned hearings (per hearing) VAT 100 Advice and negotiations per 6 minutes engaged General notes 1) Unless we are instructed in accordance with out of court debt recovery scheme, then our fees are payable in all circumstances, regardless of recovery. 2) VAT is payable on all relevant fees at the prevailing rate. 3) Whilst we endeavour to ensure that the above information is correct, HM Court Service and other agents such as the London Gazette do vary their fees from time to time. You will be charged the actual amount due relevant to your proceedings.

7 E) Other services Services Review of payment terms only 350 Full review of terms and advice 600 Full redraft of terms and conditions 1200 Full review and advice on credit control proceedures 300 Obtaining personal guarantees on behalf of corporate debtors and preparation of a standard document for your use 800