At FCOS, we understand the importance of swift and effective debt recovery. Our fixed-fee debt recovery service offers a streamlined approach to help you reclaim outstanding debts efficiently, providing peace of mind and financial security for your business.
Debt Recovery Services up to £100,000
How it Works:
- During a consultation, which will cost £300 +VAT for 30 minutes, we will assess your and confirm if the debt can be dealt with under the fixed-fee service.
- If it can, the charge for preparing and sending the letter before action, including calculating simple interest for up to five invoices will be £150 + VAT.
- If the debtor fails to respond or pay within the specified timeframe, we offer a financial report on the debtor to assist you in making informed decisions about pursuing the debt further.
- The fixed fee for the financial report is £99, providing valuable insights to guide your next steps.
- Should court proceedings be necessary, we handle the preparation and issuance of the claim on your behalf.
- Our fees for this stage are dependent on the size of the debt, inclusive of any interest being claimed.
We will submit claims within 2 weeks of your instructions being accepted.
Fee Structure:
DEBT (INC. INTEREST) | FCOS FEE | COURT FEE |
Under £300 | £50 | £35 |
£300 - £500 | £75 | £50 |
£500 - £1,000 | £150 | £70 |
£1,000 - £1,500 | £220 | £80 |
£1,500 - £3,000 | £300 | £115 |
£3,000 - £5,000 | £450 | £205 |
£5,000 - £10,000 | £550 | £455 |
£10,000 - £50,000 | £700 | 5% of the claim's value |
£50,000 - £100,000 | £850 | 5% of the claim's value |
Over £100,000 | Agreed on a case-by-case basis | 5% of the claim's value |
- If the debtor fails to respond to the claim, we proceed to obtain a county court judgment (CCJ) against them to enforce payment.
- Our fees for requesting a CCJ vary based on the amount of the judgment.
- It will take roughly 2 weeks from receipt of instructions to applying for a county court judgment.
Fee Structure
JUDGMENT Amount | FCOS FEE |
Under £200 | £50 |
£200-£300 | £75 |
£300 - £400 | £95 |
£400 - £500 | £115 |
£500 - £1,000 | £135 |
£1,000 - £5,000 | £290 |
£5,000 - £15,000 | £600 |
£15,000 - £50,000 | £780 |
£50,000 - £100,000 | £900 |
Over £100,000 | Agreed on a case-by-case basis |
- In cases where the debtor still refuses to pay, we advise on the most suitable enforcement methods, tailored to your specific circumstances.
- Fees for enforcement methods are outlined based on the chosen strategy.
- The application for any of the below methods will take 4 – 12 weeks but may be longer based on the court’s workload.
Fee table:ENFORCEMENT METHOD
FCOS FEE
DISBURSEMENTS
Advice on the most appropriate enforcement action
£250
£0
Attachment of Earnings Order
£450
£110 court fee
Third-Party Debt Order (including first hearing)
£550
£110 court fee
Charging Order (including first hearing)
£650
£110 court fee
Warrant of Control (for debts under £5,000)
£125
£110 court fee
Writ of Control (for debts over £600)
£280
£66 court fee; £75 if the enforcement action is unsuccessful
Court Attendance Order
£550
£55 court fee; £150 process server’s fee
Serving a Statutory Demand
£450
£150 process server’s fee
Bankruptcy Petition (for judgment debts over £5,000)
450 for debts up to £100,000 (to be agreed for debts over £100,000)
£280 court fee; £1,500 Official Receiver’s deposit; £150 process server’s fee
Winding Up Petition (for judgment debts over £750)
£4,250 for debts up to £100,000 (to be agreed for debts over £100,000)
£280 court fee; £2,600 Official Receiver’s deposit; £150 process server’s fee; £70 London Gazette advertisement
Key Considerations:
• Our fixed-fee service applies to unpaid and undisputed commercial invoices within England and Wales
• Debtors will be directed to address any queries directly to you, ensuring prompt communication and payment processing.
• Should the debt fall outside the fixed-fee service, we offer bespoke fee arrangements and strategic advice to address the situation effectively.
• FCOS provides ongoing support and guidance to refine in-house processes and minimize future debt-related challenges.
• Debtors will be directed to address any queries directly to you, ensuring prompt communication and payment processing.
• Should the debt fall outside the fixed-fee service, we offer bespoke fee arrangements and strategic advice to address the situation effectively.
• FCOS provides ongoing support and guidance to refine in-house processes and minimize future debt-related challenges.
Expert Handling:
Your debt recovery matters will be handled by our experienced expert, Ginis Padure, ensuring dedicated attention and professional guidance throughout the process.