Business is ultimately about profit.  This principle forms the backbone of Taylor Law's Dispute Resolution and Avoidance service for Businesses...

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BUSINESS - Debt Recovery

 

Debt Recovery is the process of collecting unpaid invoices by way of enforcement through the court process.  It is intended for use in situations where credit terms have been exceeded and the client simply can’t or won’t pay.  It is not intended for situations where there is a reasonable dispute about something.

Of course, you often don’t know if your client legitimately disputes payment at the time the invoice becomes overdue.  So you can use our Debt Recovery service and then, when a dispute transpires, move into Dispute Resolution.  Depending on the circumstances, that may mean looking to move the dispute out of court and to resolve it in a more commercial and cost effective manner.  That is what we specialize in.

Our fees for Debt Recovery work are on a fixed basis.* Outlays (e.g. court dues or sheriff officer’s fees) are charged on top, but these are minimal.  The table below shows the stages involved in Debt Recovery and our corresponding fees.

 

Stage Work Fee (excluding V.A.T.)
1

  Receiving your instructions with copies of the relevant contract documents and invoice(s) 

No charge
2A
delivering a demand for payment of the sum(s) due £40
2B
alternatively, delivering a Statutory Demand for Payment £50
3A
If payment is not received, raising an action for payment (including serving the appropriate papers upon the debtor by recorded delivery post, which failing by Sheriff Officer) and obtaining decree against the debtor on the basis that the action is not opposed by any party*  a) for each debt up to  £3,000 - £230
b) for each debt between £3,001 and £5,000 - £360
c) for each debt £5,001 or over - £490
3B
Alternatively, raising a petition for bankruptcy or liquidation to first deliverance** £450
4
instructing service by Sheriff Officer of a Charge for Payment upon the Debtor £25
5
If payment is received at any stage, remitting that to you no charge

* Work falling outwith Debt Recovery, including advisory work, may be charged for in addition.

** If the action or petition is not opposed the court is likely to award expenses and interest on top of the sum claimed.  If the expenses are greater than our fees and are recovered from the debtor, we will simply retain those instead of taking the fee from you and you will get any interest.  Otherwise, you will pay our fees and you will receive, to the extent recovered from the debtor, the sum claimed, the expenses and the interest.


Please contact us  should you wish to use our Debt Recovery service.



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Taylor Law is the trading name of Taylor Law Limited,
Registered No. SC355902 | Registered Office: 3 Castle Court, Carnegie Campus,
Dunfermline, Fife, KY11 8PB | Regulated by the Law Society of Scotland