Docklands Solicitor
Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.
Thursday, 29 January 2009
Statutory Demand Debt
There are several ways you can go about collecting a debt
If the debt exceeds 750 pounds and there is absolutely no hint of a reason why it might be contested, you can serve a statutory demand
Failure to comply with the demand (or to contest it) within 3 weeks means that the debtor is deemed unable to pay the debt for insolvency purposes
You can then petition for bankruptcy (if the debtor is an individual) or winding up (if the debtor is an company)
If the debt exceeds 750 pounds and there is absolutely no hint of a reason why it might be contested, you can serve a statutory demand
Failure to comply with the demand (or to contest it) within 3 weeks means that the debtor is deemed unable to pay the debt for insolvency purposes
You can then petition for bankruptcy (if the debtor is an individual) or winding up (if the debtor is an company)
Labels: debt collecting winding up banktuptcy
# posted by michael @ 09:00 
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