Prophet Costs Q&A

What is Prophet Costs?

Prophet Costs is a costs budgeting collaborative programme which allows the solicitor to gain access via an online portal to an amendable item by item flow chart of their future costs. 

What are the key benefits of Prophet Costs?

  • Frees up your time and frustration
  • Our costs experts carryout the work
  • Displays as a highly graphic flowchart
  • Amendable Item by item breakdown
  • Detailed Assumptions Report
  • Simultaneously drafts Bill of Costs
  • CCMC Outcome Report
  • Deferred Fees

What is the experience of the person preparing my Budget?

All work is carried out by the budgeting teams at MRN Solicitors. A team leader will allocate based on experience in the type of case and experience of the individual. Our Budgeting team have 60 years of costs experience between them. Upon notification of an instruction we would be delighted to provide you with details of the individual’s experience.

Will the person preparing my Budget attend the Costs Management Hearing?

This is part of the seamless service we offer whereby we attend the hearing and undertake the advocacy on your behalf.

Do you provide a Costs Management Hearing Outcome Report?

The Outcome report is produced online so you have it as a point of reference throughout your case. Apart from this we will send you an email reminder every month to ensure you are keeping within budget.

Will you assist with the Application and attend the Hearing?

We have experience in the preparation of Applications and will attend the Hearing on your behalf.

How far will you travel on our behalf?

Our Budgeting team will travel the length and breadth of the country on your behalf. Our fee structure is structured in such a way that you pay same for our travel and attendance whether the Hearing is in Manchester, London, Carlisle or Plymouth.

What is the cost of preparing a Budget using Prophet Costs?

Despite the high level of communications and detail we provide when preparing your budget we charge a minimum of £1,000 or 1% of the total budget (whichever is the greater). Our fee structure ensures that you do not pay for anything over and above what is recoverable.

Is there a sign up or registration fee to use Prophet Costs?

No, you have the option to instruct us as and when you want.

Which company undertakes the work?

All work is undertaken by the Budgeting team of MRN Solicitors

When must I pay?

All MRN Solicitors fees are deferred.

Please note: the points raised are merely a summary of our interpretation of the rules. We accept no liability for any misconstrued understanding of the same, nor any loss or damage sustained as a result of any reliance upon such summaries.

 

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