Kent Solicitors

If you are owed money by an individual or a company, you have a way of seeking the money without starting court proceedings. Serve a statutory demand!

This implies that if the debt is not paid within 21 days, you will issue a bankruptcy / winding up. This threat often makes a debtor pay up (if he is just mucking you about and has the money - not much good if he is on his 'last legs' anyway)

Do not use it if there is even the faintest allegation of a defence - the court will cancel your statutory demand, probably make you pay the costs of the exercise laving you to sue through the County / High Court (which is what you were trying to avoid)

Labels: Statutory demand bankruptcy winding up