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Statutory Demand |
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A Statutory Demand is a formal legal document ordering to pay off an outstanding debt. |
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You can either pay by instalments, in a lump sum or have it secured against your property. |
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The creditor may be able to apply for bankruptcy within 21 days if you do not comply with the demand. |
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You could act on your own behalf by applying within 18 days to your local County Court to "set aside" the Statutory Demand under one of the following circumstances? |
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The amount of money owed is incorrect. |
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Statutory Demand issued by the HM Customs & Excise or the Inland Revenue must be regarded very seriously. |
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If you are finding difficultly in making the payments as demanded then you may require help to negotiate affordable repayment you can manage to pay to your creditor. Contact your local CAB www.nacab.org.uk or please do not hesitate to contact us for further information. |
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