Cash flow is vital to every business, so unpaid bills can cause serious problems. Therefore, Vantage Legal Protect is delighted to offer businesses a highly competitive debt recovery service relating to unpaid invoices. The aim of the Debt Recovery Service is to offer businesses and individuals a service which is both competitively priced whilst being highly effective.
1. Chaser letter – £15.00 + VAT (£18)
In some instances, a chaser letter can be enough to prompt a debtor to make payment. Therefore, VPL will send a chaser letter to the debtor reminding them that the invoice is due and owing.
The fee for sending the chaser letter is £15.00 + VAT.
If you would like to instruct VPL to send a chaser letter, kindly complete our online instruction form here.
2. Letter before action – £50.00 + VAT (£60)
If the chaser letter is not successful, the next step will be to send a formal letter before action.
The fee for drafting and sending the letter before action is £50.00 + VAT.
3. Court claim
If the letter before actions proves unsuccessful, the next step is to consider is commencing legal proceedings.
Please note that the fees below are only applicable to invoices which are not disputed (defended by the debtor) and not subject to enforcement action. If the debtor disputes the invoice at any stage, the fees will be charged at the discounted hourly rate of £100.00 + VAT.
For undisputed matters, the fixed fees payable are as follows:
Value of debt (debt plus any interest and compensation)
|0 – £300.00||£35.00||£75.00 + VAT (£15.00)||£125.00|
|£301 – £500.00||£50.00||£90.00 + VAT (£18.00)||£158.00|
|£501 – £1000.00||£70.00||£120.00 + VAT (£24.00)||£214.00|
|£1001 – £1500.00||£80.00||£175.00 + VAT (£35.00)||£290.00|
|£1501 – £3000.00||£115.00||£200.00 + VAT (£40.00)||£355.00|
|£3001 – £5000.00||£205.00||£350.00 + VAT (£70.00)||£625.00|
|£5001 – £7000||£455.00||£700 + VAT (£140.00)||£1295.00|
|£7001 – £10,000||£455.00||£800 + VAT (160.00)||£1415.00|
|£10,001 – £25,000||5% of value claimed||Please get in touch|
|£25,000 – £50,000||5% of value claimed||Please get in touch with us on 0116 243 7862|
Once Judgment has been obtained, if it remains unpaid VPL will discuss enforcement options with you.
Debt Recovery Issue?
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