Statutory Demand

A Statutory Demand is the first step to bankruptcy against an individual and can be prepared and served without any court involvement. A statutory demand can be served as soon as the debt is due and a judgment is not necessary. If you dispute the claim, you can apply for the statutory demand to be set aside. The bankruptcy court will halt the bankruptcy if there is any dispute about the sum outstanding. It can be relatively easy for you to have a statutory demand set aside and the process can result in an order for costs being made against the creditor.

Once served the statutory demand gives you 21 days warning to pay the debt. After that the creditor can issue a bankruptcy petition.

If you have received a statutory demand it is vitally important that you speak to a Direct Debt Solutions advisor as soon as possible on 0800 015 3135 so that we can help you to rectify the situation.

Speak to a Direct Debt Solutions advisor free on 0800 015 3135 and we'll advise which debt solution would best suit your debt problems or take the Express Debt Test now and find out which solution is best for you.

Back to top