It is unfortunate, but not uncommon, when running a business that you will find yourself seeking to recover outstanding debt; be that from customers, suppliers, or other companies with whom you have an ongoing dispute. Whatever the cause, and whatever the amount, the team of legal specialists in the Recoveries Department at Travlaw can provide you with professional advice and assistance to ensure that you recover what you are rightfully owed.
With over 20 years of experience specialising in the area of debt recovery for our travel & leisure clients, our team has successfully recovered debts from debtors throughout the EU, ranging from £100 to £400,000.
What Can Recoveries Do For You?
Travlaw will guide you from the initial claim proceedings, all the way through to enforcement stage if necessary. Our specialities in this area include:
- Injunction and Freezing Orders;
- Attachment of Earnings Orders;
- Enforcement through use of Bailiffs and High Court Enforcement Officers;
- Winding Up Petitions and Statutory Demands;
- Charging Orders;
What Might The Fees Be?
All recovery matters are different, with varying levels of complexity dependent not only on jurisdictional issues but also the level of involvement or dispute from the defendant/debtor. For this reason, legal fees will of course vary, however an example of our average fees (excluding any disbursements/expenses & VAT) would be as follows:
- For debts up to £10,00.00 – our fees typically average between £2,000.00 to £3,000.00;
- Debts between £10k – £50k – our fees average between £6-10k
- And debts between £50k – £100k – our fees average between £15k – £30k
Of course, because all recovery matters are different, we will individually assess and review each case; keeping you updated as to our fees as the matter progresses. The above fee guides are indicative only, and are there for transparency.
We will also consider taking on new instructions under either a Conditional Fee Arrangements (“CFA”) or Damages Based Agreements, however these are not always appropriate, and much will again depend on the individual facts and circumstances of each case.