Most debt recovery costs are charged according to a variety of factors which can end up being prohibitively expensive. It is therefore advisable to hire a legal administrative assistant that charges a fixed fee that will not change depending on the variables involved in the process of debt recovery.
The costs of hiring a legal administration assistant should be fixed. Some legal debt recovery businesses will charge you according to the total amount of the debt you are owed, so you end up paying higher debt recovery costs if the debt itself is significantly large.
Legal Administration Assistant Fees
If the case ends up going to arbitration for a legal debt but is ignored, you will need to go for a court judgment. You may need to pay additional fees to a solicitor, if they have to attend the court upon your behalf, as well as any court fees due. This can be a problem for some creditors as solicitors in general are expensive. In fact, the average hourly rate for a solicitor is £264!
Some businesses also charge around £150 + VAT just to send a ‘letter before claim’ which only informs the debtor of the demand for payment. You will then have to pay even more to initiate court action, and that is before you get to the solicitor and court fees.
Pride Recovery only costs £60 per instruction.
Solicitor Or Legal Administration Assistant?
We do not advise you to take legal action if there is a dispute. However, if the debtor refuses to communicate concerning the dispute, then you may be tempted to hire a solicitor from the very beginning of the process.
A solicitor will carry out the exact same initial steps as a legal administrator, only much more expensive!
As your legal administrator, Pride Legal Recovery will charge you a one-off administration fee of £60, plus court costs. This will be the grand total you pay unless further legal action is required. If the matter is defended or a court appearance is required, you can either attend the court or instruct a solicitor of your choice.
In reality, a solicitor is not required most of the time as Pride Legal Recovery will get the debt repaid before court attendance is required.
Next Steps
Pride Recovery are legal administrators for those looking to recover a debt and can help for only £60. To find out how, give us a call at 001733 838552.
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