We handle all aspects of debt from debt collection for companies or individuals to insolvency.
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We pride ourselves on our methods of locating and extracting money from troublesome debtors. We will act in insolvency proceedings should you find yourself facing bankruptcy or assist you in arranging your debts to avoid such an event. If you have angry or troublesome creditors you are often in the strongest position when you have the least money. It is just a matter of knowing how to deal with them.
Debt Recovery Matters
Initial advice regarding your matter is available at a fixed fee of £300 plus VAT with Mr Avadis, this will include a 1-hour fixed fee meeting and a letter of advice.
All further work is undertaken at hourly rate of £300 per hour plus VAT
We will obtain your initial instructions, assess the value of the debt and the complexity of the case in a fixed fee meeting for which we will charge £300 plus vat. We will agree either a fixed fee of between £500 and £5000 plus vat and court fees or an hourly rate of £300 plus vat per hour with a costs estimate depending on the complexity of the case and the size of the claim and whether court proceedings have been issued or are contemplated.
Please note the following additional charges, if applicable:
- Court Fee
The court fee is based on the value of the debt being recovered, plus interest.
Key Stages
If parties are unable to reach an agreement with our assistance or directly, the following stages apply.
Stage 1 Letter before Action
Stage 2 Application to Court
Stage 3 Judgment
Stage 4 Enforcement
In some cases, counsel fees will be incurred at approximately £500 plus VAT.
Time Scales:
It is difficult to accurately predict exactly how long it will take to conclude matters due to a number of variables and at what stage the parties reach an agreement or whether the involvement of the Court is required.
Typically, court proceedings take 9 to 12 months if fully defended to trial. The cost of these proceedings can vary in terms of the complexity of each case but typically cost between £5000 and £50,000.
The work will be undertaken primary by Mr Avadis who qualified in 1985 with the support of Trainee solicitors and paralegals, under his supervision. He has dealt with around 2000 cases ranging from claims of the lowest value up to £2,000,000 and spends roughly 15% of his time within this area in the firm.
