Legal Expertise Since 1995
Expert Legal Advice 0161 832 5000
Cost transparency and control are essential prerequisites to developing a relationship built on trust.
There are no surprises. Our charging system will be clearly set out and explained from the outset allowing our clients to plan and budget for the costs.
We can develop bespoke pricing and payment choices
The majority of matters, where we act, are cases where Statutory provisions allow you to recover your reasonable debt recovery charges from the debtor. The charges are added to the debt. Accordingly, you are able to pass the cost of instructing solicitors to the debtor. We are willing to share your risk, in that, if the debtor fails to pay, we will not be remunerated.
Your debt recovery charges will be calculated by reference to time spent, which shall include consideration of your initial instruction, the creation of your file, enquiries regarding the debtor’s status and preparation of an appropriate demand letter, commonly referred to as the Letter Before Action. It may also include time spent negotiating with the debtor and the processing of payments. Experience has shown that the minimum time spent on a matter is at least an hour. We do not use ‘computer generated’ letters. Each matter is dealt with in a bespoke manner with meaningful decision-making process. We provide advice and the service from the outset until payment is received.
Accordingly, we are able to operate, in qualifying cases, at no cost to you. For an assessment of whether your outstanding debt/s qualify to be dealt with on the above basis, please contact a member of our team.
In the event that your debtor fails to pay and /or make offers, we normally advise issuing proceedings either by way of a County Court action or proceedings pursuant to the Insolvency Act (Bankruptcy/Winding-up Petitions). We deal with the majority of these matters via Conditional Fee Agreement (CFA), which are more commonly known as ‘no win, no fee’ agreements. The majority of our fees are then recovered from the debtor. You will only pay in the event you win your case (recover the debt or part thereof). Any payment you recover may be subject to a ‘success fee’, which is a percentage of the monies recovered. Our success fees start from 1% of any sum recovered, but each matter will be considered on its own merit and will be discussed with you,.
Damage Based Agreements (DBA)
Finally, we can also deal with a matter via a Damage Based Agreement (DBA), which means you pay a percentage of monies recovered. This effectively means you will be aware from the outset the maximum you will be required to pay. We rarely enter into this type of arrangement, but will consider the same if a client prefers.
All our charges (other than an element of DBA fees) are determined by an hourly rate for the work done. Letters out (inc e-mails) and telephone calls are charged at one tenth of the hourly rate or part thereof.
The hourly rate for debt collection services below the sum of £100,000.00 is currently £250.00 and is subject to change annually. Any change in the hourly rate will be notified in writing from time to time.
Court Fees and other Disbursements etc
Often during the course of acting for a client, we have to engage third party suppliers, such as Process Servers (who serve legal documents) and Enquiry Agents (who trace debtors). For contested debts, it may be necessary to employ a barrister or other advocate. All court actions incur a Court fee. You will be required to make payment of all Court fees we incur on your behalf regardless of success. There are circumstances in which we will consider assisting a client in difficulty and if you wish to explore the possibility, please do not hesitate to discuss with us. Example of court fees and disbursement costs are detailed below.
Circumstances in which Payment will be Required From You
Although we operate the majority of cases on a ‘no cost to you’ or ‘no win, no fee’ basis, as described above, there are circumstances in which you will be required to pay our fees. For example, if you provide instruction and then determine you do not wish to continue and thus thwart our ability to complete the matter, you will be expected to pay that which we would ordinarily claim from the debtor. Another such example, would be the provision of inaccurate, dishonest and/or misleading instructions, which causes us to conduct a matter with no reasonable prospect of recovery/remuneration.
|Debt Amount(Including interest)||Court Fee|
|£100,001 +||We will advise you on each case|
For Claims Issued Through The County Court Money Claims Centre
Debts under £10,000 there is an additional £10-£95 Court fee. Debts over £100,000 the fee is 5% of the sum claimed.
Enforcement ( Court fees)
|County Court Warrant of Execution (Bailiff)||£77-£110|
|*High Court Enforcement Officer (HCEO) Writ||£66|
|Land Registry fee (Notice of charging order)||£84|
|Third Party Debt Order||£110|
|Attachment of Earnings||£110|
|Order to Obtain Information||£55|
|Process Server’s fee||£100|
* Charges are recoverable from the Debtor where the HCEO has not taken possession of goods; they will render an abortive fee of £75.00 plus VAT.
Our fees and some disbursements i.e. agents and HCEO fees etc are subject to VAT at the prevailing rate.
Disputed cases and any other matters referred to our Litigation Team – our charges will be advised on each matter.
For further information on our charging system, please contact a member of our team by either completing the form below or by calling 0161 832 5000.
Managing Director, Andrew Stripe is delighted to announce that Stripes Solicitors has once again been recognised by the prestigious Legal 500 publication 2018/19 as a Leading Law Firm and with many of our practice area teams being individually recommended. Our Commercial Litigation team is highlighted in particular as “always quick to respond and gives clear […]View More
Nick Dee Robinhood Consulting View More
There is a 100% record of success on all litigious cases with Stripes.
The quality of Stripes service is invaluable in pursuing either contested or uncontested claims.