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Is a Statutory Demand right for you? | Debt Collection

Is a Statutory Demand right for you?

Q1.    Are you owed more than £750?

Yes   No

You qualify for the financial limit to use a Statutory Demand.

There are a couple more questions.

Q2.    Does the person that owes you the money dispute that it is owed?

Yes   No

In this case it sounds as though you may be able to serve a Statutory Demand although there are a couple of other questions that we need to ask you.

Q3.    Is your debt for an agreed amount?

Yes   No

Unfortunately you cannot use a Statutory Demand.

Please contact us and we will be happy to discuss other debt collection options with you.

Using a Statutory Demand may be possible but there are risks associated with it.

We will be happy to provide you with some preliminary advice at no cost to see whether or not a Statutory Demand can be used in these circumstances.

Under no circumstances should you serve a Statutory Demand without taking proper legal advice.

Please contact us for a no obligation discussion.

It sounds as though you are probably not going to be entitled to present a Statutory Demand as your debt is not a “liquidated debt”.

This does not mean that you cannot collect the debt in other ways and we will be happy to advise - please contact us.

For advice and help, please contact us

If your debt is for an amount that has been agreed and there is no form of assessment required then it is likely that you will be entitled to present a Statutory Demand.

Q4.    Do you think the debtor has or may have the money to pay you? The debtor may be able to obtain money from other sources such as a bank loan or from relatives and friends to pay you?

Yes   No

If the debtor has funds or the ability to raise funds to pay you then a Statutory Demand can be a powerful tool in getting your debt to the “top of the pile”.

Contact Simon Burn Solicitors and we will be happy to assist you in the preparation and service of a Statutory Demand (subject to an individual assessment of your case).

It may be worthwhile serving a Statutory Demand to put additional pressure on the debtor.

Serving a Statutory Demand compared to other debt recovery measures is a relatively low cost procedure and it may therefore be worthwhile doing so to see how far the debtor is prepared to go to avoid proceedings. Contact us for further advice.

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