Statutory demands can be withdrawn - but much depends on what the position is with the debt being chased and whether it is genuinely due. Whatever your situation - we have the expert team to help you.
A statutory demand is not a formal court issued document.
However, once the statutory demand is served then
- an individual has 18 days in which to apply to set it aside; and
- a company has 21 days in which to apply for an injunction to stop a winding up petition.
If the debtor indicates that it is either going to apply to set aside the statutory demand or apply for an injunction to stop a winding up petition then it is possible by consent to have the statutory demand withdrawn and avoid potentially lots of cost. Normally this happens if the statutory demand debt is actually disputed or the debtor has its own claim against the creditor.
Statutory demands should never be used where there is a genuine dispute on the debt.
As a result, if you face this situation then it is important to quickly have the statutory demand withdrawn quickly. This is normally done by a solicitor on behalf of the creditor who will formally write and indicate that the statutory demand will be withdrawn. Care also needs to be taken when doing this not to become liable for the other parties legal costs.
Please contact one of our friendly expert statutory demand solicitors now for your consultation. At Francis Wilks & Jones, we have all statutory demand experience needed to deal with any type of statutory demand problem.