Information on prices and services as required by Rule 1 of the SRA Transparency Rules
In December 2018 the Solicitors Regulation Authority (SRA) published their new Transparency Rules, with the aim of making sure that consumers have the information they need to make an informed choice of legal service provider, including understanding what the costs may be. The rules require all regulated law firms to publish information on the prices they charge in relation to certain services, including Debt Recovery.
The services and pricing information which Swinburne Maddison is required to provide under these new rules are set out below.
If you have any questions in relation to the information provided on this page, please do not hesitate to contact us on 0191 384 2441.
Please note that these fixed costs apply only in cases of a business to business debt where your claim is in relation to an unpaid invoice which is not disputed and enforcement action is not needed, and therefore includes work up to and including the obtaining of a County Court Judgment in default.
If the other party disputes your claim at any point, we will discuss any further work required and provide you with revised advice about costs if necessary, which could be on a fixed fee (e.g. if a one off letter is required), or an hourly rate if more extensive work is needed. If you have an outstanding debt that does not fall into the description above, including where the debt is owed to and/or by an individual and/or is disputed, please contact a member of our team who would be happy to provide you with a bespoke quote for debt recovery action.
|Debt value||Court fee||Our fee (exc. VAT)||Total|
|Up to £5,000||£35-£205||£150||£185-£355|
|£5,001 - £10,000||£455||£200||£655|
|£10,001 - £100,000||5% value of the claim||£250||Depending on value of claim|
Anyone wishing to proceed with a claim should note that:
Our fee includes:
How long will my matter take?
Matters usually take 6-12 weeks from receipt of instructions from you to receipt of payment from the other side, depending on whether or not it is necessary to issue a claim. This is on the basis that the other side pays promptly on receipt of Judgment in default. If enforcement action is needed, or if the debt is disputed and/or the claim defended, the matter will take longer to resolve.