When considering any claim for a debt recovery action advisable to consider the debt owed to you versus the costs involved in litigation. Ultimately, litigation can be costly and a lengthy process. For a pocket-sized debt, litigation is not cost effective and will likely cost you more than the debt is worth.
In any debt recovery action, you will be able to recover some costs in the event you are successful in your claim. This includes any Court fees and fixed recoverable solicitors’ costs, along with any additional interest accrued on the debt. Some additional costs may be recoverable later on in your claim, but these costs will be explored in a later article.
For an idea as to the costs involved in issuing your claim, please see the tables set out below:
Value of the claim Cost of issuing (Court fee)
Up to £300 £35
More than £300 but not more than £500 £50
More than £500 but not more than £1,000 £70
More than £1,000 but not more than £1,500 £80
More than £1,500 but not more than £3,000 £115
More than £3,000 but not more than £5,000 £205
More than £5,000 but not more than £10,000 £455
More than £10,000 but not more than £200,000 5% of the value of the claim
More than £200,000 £10,000
Value of the claim Fixed recoverable solicitors’ costs
Exceeding £25 but not exceeding £500 £50
Exceeding £500 but not exceeding £1,000 £70
Exceeding £1,000 but not exceeding £5,000 £80
Exceeding £5,000 £100
(all of the above figures are accurate as of 12 January 2024)
As previously mentioned, these costs will be recoverable in the event you are successful in your claim. However, it is important to bear in mind that although you are able to recover fixed recoverable solicitors’ costs, you are liable for any additional costs incurred by your solicitor.
Should you require any information regarding costs involved in issuing a potential claim our expert and friendly team is ready to assist you. For more information contact Darnell Alexander-Connell on 01756 799000 or alternatively email at d.alexander-connell@mewiessolicitors.co.uk