A statutory demand is a written demand for payment of a debt, in a prescribed form, served on either an individual or a company.
A statutory demand does not need to be issued at Court.
The process has the following potential advantages:
- It does not involve the Court from the outset.
- Preparing and serving a statutory demand is quick and (relatively) inexpensive.
- It can either result in prompt payment of a debt, or flush out details of any dispute or cross-claim.
If you are owed at least £750 by one of your corporate creditors or £5,000 per one of your personal creditors, or you have been served with a statutory demand please contact one of our experts for a free, no obligation meeting to discuss your circumstances and the options available to you.