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We can help recover unpaid debts and invoices, whilst protecting your working relationships with defaulting customers. We specialise in encouraging payment through communication, we have found this approach increases recoveries and decreases the need for further action, which minimises costs, and which we see as a last resort. We charge a fixed initial instruction fee (starting from £85*) to receive your instructions and contact your customer on your behalf. Other contact options are available should you wish to take a more commercial approach.
Restons Solicitors specialise in debt collection and litigation services provided to a range of businesses and has over 30 years’ experience in recovering debt. We find our contact campaigns encourage our client’s customers to be more forthcoming in making payment.
We take a commercial approach and invite your defaulting customers to provide us with information to better understand their financial circumstances in order to reach a settlement
Your relationship with your customers is at the forefront of our minds and our business model; we operate in a way that allows you to preserve that relationship, optimising prospects of ongoing and continuous trade with defaulting customers
We believe in a firm but fair approach - we understand the necessity of pursuing unpaid debts for your own cash flow purposes, to allow you to continue to provide services to other customers and to comply with your obligations to your own business and employees
We enhance the relationship between our clients and their customers by offering bespoke solutions to encourage communication and a quick resolution
We have developed a contact strategy which includes a campaign of emails and text messages to encourage a response and co-operation from your defaulting customers. Our statistics show that following the implementation of our contact strategy the response rate increased by 25%. We appreciate that for many of our client’s litigation is considered a last resort and we find that our contact strategies assist in minimising the prospects of litigation and dispute.
Of all our clients' customers with whom we commenced our contact campaign, 55% of cases were settled pre-issue and 60% of cases were paid in full prior to Judgment being entered.
94% of our client's customers surveyed state they are extremely, or very, satisfied with their experience with us.
Our pricing starts at just £85 plus VAT to send a Letter of Claim to a corporate customer/debtor, and £150 plus VAT to send a letter of claim to a non-corporate customer/debtor.
If it is necessary to send a Letter of Claim, any costs and interest that can be claimed from your customer, pursuant to your terms of business or the Late Payment of Commercial Debts legislation will be claimed at this time. We can also issue court proceedings if your customer continues not to pay; costs would be limited to the fixed costs imposed by the Civil Procedure Rules up to County Court Judgment, unless the matter becomes disputed. Further details are set out below.
Our table below shows the costs we will claim from your customer if the Late Payment of Commercial Debts legislation applies (or to the extent your terms and conditions allow). VAT is payable at 20% on all costs.
| Interest | At the rate of 8% per annum (above base rate) |
| Compensation | Debt: Up to £999.99 - £40 per unpaid invoice Debt: £1,000 to £9,999.99 - £70 per unpaid invoice Debt: £10,000 or more - £100 per unpaid invoices |
| Reasonable Recovery Costs | These will cover the costs you incur instructing this firm, further details of which are subject to our terms of business. |
The further table below shows the costs you can expect to incur (and will be claimed from your customer) if court proceedings are issued (VAT payable in addition).
| Value of Claim | Court fee (payable on instruction) | Fixed costs to issue proceedings (payable on instruction) | Fixed cost on entering Judgment (to be billed once Judgment obtained) | |
| Admission or Part Admission accepted | No response (to be billed once Judgment obtained) | |||
| Up to £300 | £35 | £50 | Up to £25 | £40 |
| Over £300 up to £500 | £50 | |||
| Over £500 up to £1,000 | £70 | £70 | ||
| Over £1,000 up to £1,500 | £80 | £80 | ||
| Over £1,500 up to £3,000 | £115 | |||
| Over £3,000 up to £5,000 | £205 | |||
| Over £5,000 up to £10,000 | £455 | £100 | Up to £35 | £55 |
| Over £10,000 up to £200,000 | 5% of value | |||
| Over £200,000 | £10,000 | |||
As described above, if a dispute arises costs will continue to accrue on a time and materials basis. An estimate will be given to you as and when a dispute arises. Costs claimed on a time and materials basis will be claimed at hour hourly rates, which are set out in the table below.
| PAY BAND | FEE EARNER | HOURLY RATE (EXC VAT) |
| A | Solicitors and legal executives with over 8 years' experience | £300 |
| B | Solicitors and legal executives with over 4 years’ experience | £220 |
| C | Other solicitors or legal executives and fee earners of equivalent experience | £200 |
| D | Trainee solicitors, paralegals and other fee earners | £150 |
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