Issue of Statutory Demand
A Statutory Demand is an official demand for any debt under 6 years of age to be paid. The full amount must be paid – or an agreement to pay must be reached- within 21 days. If after 21 days your debtor has still taken neither of these options you may apply to bankrupt them or wind up their company.
The issue of a Statutory Demand is something which is done subject to the acknowledgement of the debt but refusal to settle the debt.
Issue of a Statutory Demand to a consumer
Issuing a Statutory Demand to a consumer is a relatively straightforward process with UK-Debt Collection. Once you have determined which form is relevant to your case we will help you draft your paperwork, serve the papers to your debtor and guide you as to appropriate action from there on. Consumers may challenge a Statutory Demand within 18 – 34 days dependant on where the individual was at the time of serving.
Issue of a Statutory Demand to a company
When issuing a Statutory Demand to a company, you must fill out this form. We at UK-Debt Collection are then able to serve this for you and advise on any further action should the company not respond to the Demand. Companies may not challenge Demands, however, they may apply to stop any further action, i.e. Liquidation.
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