It is possible to use statutory demands to chase foreign debts. Our brilliant team can help advise you on this
There is nothing stopping a creditor chasing a debt in a foreign currency and using a statutory demand to do so.
- however, you have to question why the creditor could not simply convert the debt in to sterling and proceed in that basis.
- stating the sterling equivalent of the debt (as well as the foreign currency value) would make it less open to some form of challenge and bluntly make it easier for the debtor to pay – assuming it is used to dealing in Sterling.
- otherwise issues might arise as a result of the debtor taking advantage of the wrong exchange rate etc.
Our team at Francis Wilks & Jones can help. We offer fast and effective statutory demand advice for all new clients. Call now for a friendly consultation.