DIY Statutory Demand Kit

A DIY guide to issuing and serving a Statutory Demand.

A Statutory Demand is not a Court Document but it is the first step to making someone bankrupt or winding up a limited company. As such it can be very effective in persuading a debtor to pay up as the consequences of ignoring this formal demand can be dire

A Statutory Demand can be seen as an alternative to Court Proceedings. As such it will have certain advantages and disadvantages over issuing Court Proceedings.

Advantages:

• No Court issue fee to pay.
• The consequences of ignoring a statutory demand can be very severe and result in the bankruptcy of a debtor .
• Relatively simple, quick and easy to prepare.
• A relatively cheap way to enforce payment of a debt that can be expected to at least bring contact with a debtor .
• Bankruptcy is an extremely effective method of recovering a debt.

Disadvantages:

• No presumption of service. You must effect and be able to prove service of the demand.
• A debtor need only show an arguable defence to have the Statutory Demand set aside .
• Should only be used when there is an intention to file for bankruptcy if debt not paid .
• Enforcement cam only be by way of bankruptcy and the County Court enforcement methods (such as bailiffs, attachment of earnings) are not available

As a Statutory Demand is such an important document, the rules for completion and service are strict. If not properly complied with the statutory demand may be either set aside by the Court or become ineffective. With the guidance of this Kit you will be able to effectively prepare and serve a statutory demand for monies owed.

Chapters of the Kit include:

• The use of Statutory Demands
• Completing the Statutory Demand
• Service of the Statutory Demand
• Applications to set Statutory Demands Aside
• Bankruptcy
• Example of a Completed Statutory Demand.

The Kit includes the 4 prescribed Forms of Statutory Demand which can be completed on line or downloaded for completion.

The Statutory Demand Kit costs £19.99

It consists of approximately 2000 words and 12 pages.

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