Page 8 - Book
P. 8

Fees (cont’d)
SLC: Sensible, Reasonable, Risk-Free.
Following the issue of a claim, we will seek, wherever possible, to recover our costs at the standard hourly rate from the tenant. Where we can do so, any costs invoiced to you will be reimbursed to the extent that they are recovered from the tenant. This will be subject to us recovering a minimum £335 plus VAT plus all disbursements.
Where we cannot recover our contractual costs, for whatever reason, the maximum costs payable by you are as set out earlier (please see previous page). Where costs have been awarded by the court against the tenant, we shall continue to seek recovery until the amounts owing become statute barred (see 2). Should we recover such costs from the tenant and, subject to us recovering at least £335 plus VAT plus all disbursements, we will reimburse any costs charged to you.
Defended Claims
If the matter becomes defended, upon receipt of a defence our hourly rates, as set out below, will apply. We will agree this with you before charging for any time on a case.
2. PRS rent and costs recovery and/or enforcement of judgment debt (post eviction)
Our clients often acquire an existing PRS portfolio with outstanding aged debts. Such debts are often unadvisedly written o  as unrecoverable by previous owners. At SLC we aim to realise this potential income stream and continue to pursue the outstanding amount for a period of six years; after which the debt becomes ‘statute barred’.
We are able to act under a damages based agreement provided on a risk free ‘no recovery no fee’ service as set out below:
Percentage charge on debt instructed:
25% + VAT – with a minimum charge of £100.00 plus VAT on any recovery.
Where we recover the principal sum of £2,500, our fee would be £625 plus VAT. We will deduct this sum from the £2,500 and forward the remainder on to the client.
The only additional costs will be for disbursements should they become necessary, for example, a trace fee (£30.00 plus VAT) or disbursements associated with enforcing judgments such as baili  attendance, attachment of earnings orders, third party debt orders and charging orders. No disbursement will be incurred by us without prior authorisation from you.
Solicitor with over 8 years litigation experience:
Solicitor with under 8 years litigation experience:
Trainee Legal Executive and Paralegal:
£201.00 plus VAT £150.00 plus VAT £95.00 plus VAT
solicitors asset management
debt | prs | property

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