Statutory demand enforcement
Statutory demand enforcement is often a precursor to the threat of a winding up petition against a company or a bankruptcy petition against an individual. It can be a very powerful tool to recover outstanding debts from individuals or companies.
In circumstances where the creditor already has a court judgment, using the statutory demand procedure to serve a statutory demand judgment debt is an effective way of recovering a debt. It is also risk free as the debtor cannot dispute the statutory demand in any way as it is based on a formal court judgment.
If the creditor is simply chasing an overdue debt then it can proceed by way of a statutory demand so long as the statutory demand debt is not subject to a genuine or substantial dispute or the debtor does not have a legitimate cross claim or counterclaim against the creditor.
Whilst statutory demands can be very useful as part of enforcement process, they need to be handled with care. If a statutory demand is used in circumstances where the matter is disputed, the creditor may potentially end up with a large costs order against it if the individual applies to set aside the statutory demand at court of a company applies for an injunction to restrain issuing of a winding up petition.
At FWJ we can help advise as to whether your case is suitable for statutory demand enforcement or whether it is likely that the debtor will dispute the statutory demand which could in turn lead to difficulties for you as part of statutory demand enforcement.
Contact expert statutory demand solicitors now
Please contact one of our expert statutory demand lawyers now for your consultation. At Francis Wilks & Jones, we have all the statutory demand experience needed to deal with any type of statutory demand problem. We offer fast and effect statutory demand advice, whatever your situation. Call now for a friendly consultation.
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