BridgeMcFarlandSolicitors

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Bridge McFarland can offer you practical, uncomplicated advice, support & guidance when you need it most. Whether it be an employment dispute, family advice, an accident or negligence, life planning or moving house, let us help you.
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Our commercial team in Lincoln, Hull, Market Rasen and Grimsby prides itself on its sound business sense, commercial insight, local knowledge and first class understanding of the relevant legal disciplines ranging from employment law, business contracts, dispute resolution to agriculture and property development. From company formation to sale, succession, dissolution or dispute resolution, you can trust our team to deliver first class service and results.
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Chris Gresswell-Green
Senior Solicitor
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Janet Wilson
Senior Conveyancing Executive
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Rob Ripley
Partner
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Lee Whiting
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Lisa Moore
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Ian Sprakes
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Leanne Keating
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Rob Ripley
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Mike Wilson
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Chris Hubbard
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Jacqui Johnson
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Funding for Debt Recovery

We provide simple, fast and effective recovery of business debts. We understand the importance of cash flow in business and in most cases our experienced Debt Recovery team work on ‘No Recovery, No Fee’ basis so you pay by results.

Home » Business Law » Debt Recovery » Funding For Debt Recovery
“Barbara, James and Marlene wish to thank Allison Rawling for her help in attending to the affairs of a very dear friend who passed away in May. Her kindness, patience and understanding, along with her professional approach to dealing with and complying with our friend's wishes and instructions have been carried out most efficiently. Thank you very much! ”
Feedback from Barbara about Allison Rawling, Chartered Legal Executive, Grimsby
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Most law firms charge for Debt Recovery work on a fixed fee basis. At Bridge McFarland most of our Debt Recovery work is undertaken through a Damages Based Agreement (DBA); a type of “no win, no fee” agreement where you only pay to us a percentage of any payment we recover.

If we are unable to recover the debt, you do not pay our fees – only any expenses (such as court fees) we may incur.

The percentage you pay to us depends on the age and value of the debt and whether it is recovered pre-action, after issuing court proceedings or at the enforcement stage as set out below.

Our Fees

  Pre-Action After-Issue Enforcement
Age / Value of Debt < 180 days > 180 days < 180 days > 180 days All debts
£1,000 - £9,999* 10% 12.5% 12.5% 15% 20%
£10,000 - £49,000** 7.5% 10% 10% 12.5% 15%

* Minimum fees apply of £250 for Pre-action, £350 for Court Proceedings and £500 for Enforcement.
**We will agree terms for debts over £50,000 or bulk accounts

Points to note:

  • These costs include VAT. 
  • These costs apply where your claim is in relation to an unpaid debt which is not disputed. 
  • We will discuss and agree with you before issuing court proceedings or taking enforcement action.
  • You also pay any agreed expenses such as court fees or enforcement agent’s fees whether or not the debt is recovered. We may ask for payment of such expenses on account. 
  • Court fees are payable as an expense on issuing court proceedings and on enforcement of a Judgment. Court fees are added to the claim and recoverable from the debtor. Court fees are based on the amount claimed including interest and for claims of more than £10,000 the court fee to issue a claim is 5% of the claim value. A full list of court fees can be found here https://www.gov.uk/court-fees-what-they-are. 
  • Where possible we will add late payment interest and compensation to the debt and claim any fixed costs if court proceedings are issued. 
  • Interest and compensation may take the debt into a higher banding, with a higher cost.

Our fee includes:

  • Taking your instructions and reviewing documentation. 
  • Undertaking appropriate searches. 
  • Sending a letter before action and any further letters/emails and/or telephone calls
  • Receiving payment and sending onto you, or if the debt is not paid, drafting, issuing and serving a claim. 
  • Where no Acknowledgment of Service or Defence is received, applying to the court to enter Judgement in default (a County Court Judgement or CCJ). 
  • When a Judgement in default in received, write to the debtor to request payment. 
  • If payment is not received providing you with advice on the options for enforcement action. 
  • Taking agreed steps to enforce a Judgment against the debtor.

Our fee does not include:

  • Court fees and any other expenses.
  • Insolvency proceedings such as issuing a winding-up petition or bankruptcy petition.

If the debtor disputes your claim at any point, it can be handed over to our team of experienced Dispute Resolution lawyers who will provide pragmatic commercial advice and can offer a range of innovative and flexible funding options including fixed fees, conditional (No Win, No Fee) and discounted fee agreements, as well as after-the-event legal expenses insurance and disbursement funding

Matters usually take between 1 to 6 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 and enforce any Judgment. This is on the basis that the other side pays promptly on receipt of Judgement in default. If enforcement action is needed, the matter will take longer.

Our Debt Recovery team is supervised by Rob Ripley and Mike Wilson, both of whom are Partners in the firm’s Dispute Resolution department and between them have more than 30 years’ experience. Work on your case may be undertaken by another member of the Debt Recovery team. Further information about our solicitors and their experience can be found on their individual profiles.

To find out more about our Debt Recovery services please contact us on 01482 320620, request a call back or enquire online.