| Viewing Single Post From: Dealing With A Statutory Demand | |
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| whistleblower | Nov 14 2005, 02:56 PM |
www.saynotoyes.co.uk
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I have received a Statutory Demand, what should I do? Firstly, do not ignore it. Take it out of the bin! You need to act quickly but there are remedies to this situation. A Statutory Demand is a formal legal document requiring you to pay off an outstanding debt either by instalments or a lump sum or to secure it against a property. If you do not comply with the demand, the creditor may be able to apply for bankruptcy against you within 21 days. Some creditors use the issuing of a Statutory Demand as a tactic to frighten you but they should always be taken seriously. In particular a Statutory Demand issued by the VAT (HM Customs & Excise) or the Inland Revenue should be regarded as serious. Seek immediate advice from your local CAB www.nacab.org.uk or other free debt advice agency (details below). Can I deal with this myself? If you wish to act on your own behalf you should apply within 18 days to your local County Court to "set aside" the Statutory Demand under one of the following circumstances: There is a dispute regarding the amount of money owed. The sum owed is less than £750. The demand has been issued in error. You have means of paying the debt (i.e. can make a reasonable offer). There is a counterclaim of more than the money owed. Unless such an application is made, the Statutory Demand must be complied with to prevent any further action being taken against you. I need further help If you are unable to make the payments requested you may need help to negotiate with your creditors to achieve a level of repayment you can afford. Contact a free debt advice agency for further information. Payplan - The Free Debt Advice Agency Freephone 0800 917 7823 Email: help@payplan.com Web: CLICK Citizens Advice Bureaux - CLICK National Debtline - 0808 808 4000 |
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| Dealing With A Statutory Demand · Debt Collection Agencies Forum | |
11:56 PM Nov 25
