A Statutory Demand is a threat of insolvency proceedings either against a limited company or an individual.
Except in relation to Winding-Up proceedings against a limited company, Statutory Demands are, in the main, a pre-requisite before the issuing of bankruptcy proceedings:
- normally used on higher value debts
- should only be used when the debt is clearly not disputed or a County Court judgment has already been obtained
- the debtor has 21 days from the date of service to respond, failing which bankruptcy or Winding-Up proceedings can be considered
We agree a fixed fee for the issuing of the Demand and arrange for a process server to personally serve the Demand as a matter of urgency.
Debt recovery solicitors
To arrange a discussion with a debt recovery solicitor click here or call us on 0800 840 4929.
