Debt recovery costs

For a large legal recovery firm with over 170 lawyers and support staff, we are unusual in having only two equity partners. This means we avoid the ‘red-tape’ associated with most law firms and can be extremely flexible in creating bespoke fee options to suit your particular needs.

Depending on the size, age, and profile of your debts we can offer you a number of fee options such as:

Pricing menu

If your preference is to have a defined cost for each element of the debt collection process then we are happy to create and provide you with a bespoke charging menu for our fees at each stage.

No-Recovery-No-Fee

Where sufficient information about the profile of your bad debts is known then we would consider charging you a small percentage of the amount recovered so that our goals are truly aligned. There are no hidden costs and if we do not recover then you do not pay.

Fixed fees

With some clients, we perform regular volume recoveries for a defined monthly retainer fee which gives them certainty regarding their debt recovery costs for financial forecasting.

Although we are a leading law firm, we have won several national awards for our ability to maximise the recovery of uncontested volume debts without the need to issue Court proceedings wherever possible.

We can use the Late Payment of Commercial Debts (Interest) Act 1998 to claim back due costs and interest with the ultimate goal of making debt recovery cost-neutral or even a small profit centre for you wherever possible.

Where your debts are more complex or contested, our Tier 1 Litigation team is also equipped to offer bespoke creative fee structures for volume matters.

The efficiencies of managing the entire debt recovery and legal process in-house allows us to pass on the cost benefits to our clients.

 

“Their fast, efficient turnaround of our debts has resulted in 93.5% of cases being resolved without the requirement to progress through litigation or court, thus keeping our legal costs to a minimum”.

UK Shared Services AR Manager

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To find out how your own results and costs can be improved, please contact us on 01332 226 474 or complete the form below.