Our client knew someone who owed them several thousands of pounds years ago. Our client came to our office and asked for our assistance. Our client instructed us that no matter what they did or said to the debtor, they were not getting any closer to recovering any of their money.
We read the whole file and became familiar with the debtor’s circumstances within days. We studied the case thoroughly inside out, established the causation and advised that the prospect of recovery was 100%.
After completing our research we sent a Statutory Demand under section 268 (1) (a) of the Insolvency Act 1986 to the person who owed our client money. As soon as this letter with demand was served upon the debtor they immediately paid the outstanding amount in full.
Our client was overwhelmed with the service and referred four other cases. A good beginning is half the job done.
What is a Statutory Demand?
A Statutory Demand is a notice in the form of request for repayment of full amount from a creditor (someone who is owed money) for payment of a debt. The person or company that receives the demand has 21 days to settle the debt or ask the court to aside (dismiss) the demand. The creditor may present a petition to court for a bankruptcy order or winding-up order if, after 21 days, a statutory demand claiming a debt of more than £750 is not:
- Secured (an agreement reached for payment), or
- Set aside.
There are two types of Statutory Demand Notice forms:
- Form 4.1 (under section 123(1)(a) or 222(1)(a) of the Insolvency Act 1986) is used if the debt is against the Company; and
- Form 6.1 (under section 268(1)(a) of the Insolvency Act 1986) is used if the debt is against the individual.
Similarly, our solicitor has recovered the full money from the debtor with costs even in the absence of contract in writing but with the help of emails and text message and tape recording conversation between the debtor and creditor. We also have enormous experience of challenging any debts of whatever size from £750 onwards.
So if you are having problems in recession and would like to recover any money owed or you are in receipt of Statutory Demand Notice from the creditor then please do not hesitate to contact us. You will get opportunity to speak to a qualified solicitor and get immediate help and legal assistance.