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A Statutory Demand is a tool available to creditors as one step on the way to enforcing a debt. Receiving one is a serious matter. They should not be ignored as they may be able to be used by a creditor as an indicator that you cannot pay and may be used in insolvency and bankruptcy processes.
Careful thought needs to be given about whether or not to serve or challenge a Statutory Demand. You should seek legal advice as there may be better ways to secure what is owed to you and there are only certain grounds on which you can challenge one if you are the one that has been served with one.
I can provide you with advice about serving or challenging a Statutory Demand.
Getting the decision wrong could be a very costly mistake as you may have to pay the other party’s legal costs. You may find it more difficult to enforce or challenge one if you don’t do so carefully after receiving advice.
If there is a dispute about the debt then Statutory Demands may not be the right tool as this may be a ground for setting one aside.
A court may agree to set aside a statutory demand if:
The relevant tule is Rule 10.5 of the Insolvency (England and Wales) Rules 2016 (SI 2016/1024)
I can help by making sure that a Statutory Demand is the right tool or, if you’re the debtor, whether you have grounds to have it set aside. If there are grounds I can draft an application to have it set aside and assist you with the evidence required in support.