So for general awareness and warning.... these are to come in on March 9th, really only affects claims over £15k, so isn't hugely going affect the type of claims we deal with which tend to be small claims under £10k, but those over £15k the issue fee is going up a lot, the fee for a £15k claim is going up from £550 to £750, a £20k claim up from £550 to £1000, a £30k claim up from £550 to £1500, and so on. A £200k claim is going up from £1315 to £10,000
So thinking back end, if a creditor sues you for a loan of £20k costs of £1000 will be added instantly they issue a claim.
There's also rumblings and consultation on further changes but to application fees and repossession claim fees. The application fee is going to be of major concern, but we'll cross that bridge when we come to it - I have lodged our opposition to it, for what that's worth.
So thinking back end, if a creditor sues you for a loan of £20k costs of £1000 will be added instantly they issue a claim.
There's also rumblings and consultation on further changes but to application fees and repossession claim fees. The application fee is going to be of major concern, but we'll cross that bridge when we come to it - I have lodged our opposition to it, for what that's worth.
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