Statutory Demand

A powerful tool for debt recovery

If you’re facing unpaid debts and need a fast, effective solution, a Statutory Demand could be the right tool. This formal notice gives the debtor 21 days to either pay the debt or dispute the demand. If the debtor fails to act, you can pursue more severe measures, such as applying for bankruptcy if the debtor is an individual or initiating winding-up proceedings if it’s a company. Our Statutory Demand service offers a quick, straightforward way to recover unpaid debts, helping you safeguard your financial interests without unnecessary delays.

A Statutory Demand is a formal written notice issued by a creditor demanding payment of an outstanding debt. Once issued, the debtor has 21 days to settle the debt or seek a court dismissal. If the debt exceeding £750, remains unpaid or unsecured, the creditor can petition the court for a bankruptcy or winding-up order.

Our team at Helpland provides expert guidance through this process, ensuring you can take swift action to protect your financial interests. Reach out to us for professional assistance in issuing a Statutory Demand and resolving unpaid debts efficiently.

What is a Statutory Demand?

A Statutory Demand is a legal notice used to formally request payment from a debtor before escalating to more serious actions like bankruptcy or liquidation. It’s generally used for unsecured debts of more than £750 and gives the debtor 21 days to either settle the debt or challenge the demand in court. If the debtor fails to take any action, you can then move forward with insolvency proceedings to recover the amount owed. Our team takes care of everything, from drafting the demand to advising you on your next steps if the debt remains unpaid.

The process

• Eligibility Review: We start by evaluating your situation to see if a Statutory Demand is the right approach. This is usually appropriate for debts over £750 that aren’t already part of a formal repayment plan.
• Drafting the Demand: Our legal experts will carefully draft the Statutory Demand, making sure it meets all legal requirements. The document will clearly state how much is owed and outline the consequences of not paying.
• Serving the Demand: The demand is then served to the debtor, either in person or via registered post. From that point, they have 21 days to either pay the debt, dispute it, or negotiate a solution.
• Next Steps: If the debtor doesn’t respond or pay within the 21-day window, we can help you escalate the matter. This could mean filing for bankruptcy if the debtor is an individual, or issuing a winding-up petition if they are a company.
• Legal Compliance: Throughout the entire process, we make sure every action is taken in line with UK insolvency laws, minimising any delays or potential disputes.

Why choose us?

• Expert Legal Guidance: Our experienced legal team will guide you through every stage, ensuring your Statutory Demand is robust and effective.
• Fast and Decisive Action: With a 21-day deadline for payment, a Statutory Demand is a quick and powerful way to put pressure on debtors.
• End-to-End Support: We manage everything, from evaluating your case to serving the demand, so you can focus on your business while we take care of the debt recovery process.
• Escalation Assistance: If the debtor fails to pay, we offer full support in escalating the matter to bankruptcy or liquidation proceedings, ensuring you have a complete range of debt recovery options.
• Clear Pricing: Our fees are competitive and transparent, with no hidden costs. You’ll always know exactly what to expect before we proceed.