Serve a Statutory Demand

Recover outstanding debts swiftly...

You can make a Statutory Demand if a company owes more than £750 (the threshold is £5,000 for individuals), and the undisputed debt is less than six years old...

If your debtor fails to agree payment terms after 21 days, call 020 7504 1300 for advice on how to start bankruptcy or liquidation proceedings...

Insolvency & Law provides bespoke insolvency and debt recovery solutions to assist creditors with matters such as:

Formal Demands

Statutory Demands

Winding-up petitions

Statutory insolvency procedures

Why Should They Pay?

Failure to respond to either a Formal Demand or a Statutory Demand could result in bankruptcy or compulsory liquidation.

You could be one phone call away from receiving payment. Dial 0207 504 1300 now…

Listen to podcast on how to use Statutory and Formal Demands...

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Formal Demands

Creditors tend to serve a Formal or Statutory Demand before commencing insolvency proceedings to bankrupt a person, or wind up a company.

Presenting a winding-up petition after serving a Statutory Demand strengthens your case. But it isn't always necessary. We frequently recommend the issuing of a Formal Demand to:

Outline the amount and circumstances of the debt
Forewarn of the commencement of bankruptcy or company winding-up proceedings unless payment is made within 21 days

Statutory Demands

A statutory demand is a document formally requesting payment of an overdue debt within 21 days. Your statutory demand should clearly state the following:

The amount owed

The circumstances surrounding the undisputed debt

That bankruptcy, or winding-up proceedings may commence if payment isn't received within 21 days

Bankruptcy and Winding up

Statutory Demands are usually the first step in the bankruptcy or company winding-up process. Serving a debtor with a Statutory Demand isn’t always necessary, but it will strengthen your case. Whatever you decide, it’s essential that you act swiftly as your debtor might be:

About to collapse

Trading while insolvent

About to be wound up

Causing you and your business to suffer losses

Using your credit terms as an unsecured, interest-free loan

Transferring assets into a new company leaving you and other creditors to perish with the old one

You could be 1 phone call away from collecting payment. Dial 0207 504 1300 now…

Winding-up Petitions

21 days after presenting your Statutory Demand, you can serve your debtor with a bankruptcy or winding-up petition. But only if:

The undisputed debt remains unpaid
No arrangement has been made to pay
The Statutory Demand has not been withdrawn nor set aside

The bank account(s) of a company that fails to respond to a winding up petition may be frozen.

You could be 1 phone call away from collecting payment. Dial 0207 504 1300 now…

Formal Demands

Creditors tend to serve a Formal or Statutory Demand before commencing insolvency proceedings to bankrupt a person, or wind up a company.

Presenting a winding-up petition after serving a Statutory Demand strengthens your case. But it isn't always necessary. We frequently recommend the issuing of a Formal Demand to:

Outline the amount and circumstances of the debt
Forewarn of the commencement of bankruptcy or company winding-up proceedings unless payment is made within 21 days

You could be 1 phone call away from collecting payment. Dial 0207 504 1300 now…

Statutory Demands

A Statutory Demand is a document formally requesting payment of an overdue debt within 21 days. Your Statutory Demand should clearly state the following:

The amount owed

The circumstances surrounding the undisputed debt

That bankruptcy, or winding-up proceedings may commence if payment isn’t received within 21 days

Bankruptcy and Winding up

Statutory Demands are usually the first step in the bankruptcy and company winding-up process. Serving a company with a Statutory Demand isn’t always necessary, but it will strengthen your case. Whatever you decide, it's essential that you act swiftly as your debtor might be:

About to collapse

Trading while insolvent

About to be wound up

Causing you and your business to suffer losses

Using your credit terms as an unsecured, interest-free loan

Transferring assets into a new company leaving you and other creditors to perish with the old one

You could be 1 phone call away from collecting payment. Dial 0207 504 1300 now…

Winding-up Petitions

21 days after presenting your Statutory Demand, you can serve your debtor with a bankruptcy or winding-up petition. But only if:

The undisputed debt remains unpaid
No arrangement has been made to pay
The Statutory Demand has not been withdrawn nor set aside

The bank account(s) of a company that fails to respond to a winding up petition may be frozen.

You could be 1 phone call away from collecting payment. Dial 0207 504 1300 now…

CALL 020 7504 1300

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Insolvency & Law Limited
78 York Street, London, W1H 1DP
Telephone +44(0)20 7504 1300
info@insolvencyandlaw.co.uk / www.insolvencyandlaw.co.uk
Company registered in England and Wales. Company Number 6841774

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