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Statutory Demand Form

Statutory Demand Form

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Instructions and help about statutory 4 1

what should i do if i have been served with a statutory demand statutory demands are often served by personal service on the debtor as the creditor needs to prove that the demand has come to the debtor's attention if you are served with a demand do act quickly and consult an experienced solicitor immediately if a valid statutory demand is served on you as an individual and it is not satisfied within 21 days or if you dispute it and it is not set aside by the court following an application made by you within 18 days then it could result in your bankruptcy if you are a limited company and you have not applied for an injunction restraining the creditor from presenting a winding up petition then an unsatisfied demand could result in the winding up of the company in both cases the creditor needs to demonstrate that an undisputed and unsecured debt of at least 750 pounds for a company and 5 000 pounds for an individual is outstanding 21 days after service of the demand don't

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