Commercial Law Services
Statutory Demands – Someone owes me money!
A statutory demand is a formal document by which a creditor can demand payment from a debtor. The debtor has a limited period in which to pay after which the creditor can then petition to bankrupt an individual, or wind up a company.
We will be able to advise you as to whether this is the best procedure for you to use in your circumstances.
Statutory demands can often be complex but we can help you to make sense of your situation and get the results you are looking for. To speak to a member of the team, contact Clough & Willis today on 0800 083 0815, or fill out an online enquiry form.
How is a statutory demand used?
A statutory demand can be used by an individual or a company to recover cash which they are owed, generally by someone who is for whatever reason refusing to pay. The document should contain the following details:
- How much is owed
- When the money should be paid
- The steps which will be taken should payment not be received
- Contact details for the payee to get in touch with the person or company demanding the money
- Information about a payee's right to dispute the document and its contents
Do I have any other options?
If you are seeking debt within the building trade or certain other sectors then using a petition could be another option, but this high-risk solution comes with the possibility that someone who is owed money could be forced to pay the debtor's costs.
Debt Recovery News
Winding Up Petitions And Football Teams
It has been well reported in the press and other media that Bolton Wanderers Football Club has been served with a Winding Up Petition by Her Majesty’s Revenue & Customs and more recently tha… Read More
My Former Spouse Ran Up A Fortune In Debts, What Should I Do?
If the debts were in their name, you heave a sigh of relief. It is a lot easier these days to steer your potential creditor towards the hopefully safe haven of your own credit profile. The… Read More
Late Payment Of Invoices Is An Ever Increasing Fact
Everyone in business knows that late payment of invoices is an ever increasing fact of commercial life. But a recent survey shows just how big the problem has become. The figures are stagger… Read More
What Our Clients Say
Many thanks for the help, advice and guidance
I have had need to use other solicitors - but was unhappy with their performance. I would always choose Clough & Willis in the future
I found Fiona very clear and to have a very pleasant manners, I felt she had a personal interest.
I would like to take the opportunity to say Fiona Gaskell was more than helpful and went the extra mile during my disputed land situation. She remained professional but allowed personable approach. Thank you.
Ms J Hall
May I thank you for a first class service, excellent guidance and the support I received from you was wonderful and helped me to cope with a very difficult situation.
Mrs J Atkinson
Fiona Gaskell is a true professional along with her colleagues, many thanks for all your hard work.
Excellent service, more than we hoped for