Docklands Solicitor
Latest legal news from Docklands Solicitors, Kaslers Solicitors LLP.
Wednesday, 28 January 2009
Statutory Demand Dispute
Pay up in full if you agree you owe the money
Try to agree a payment plan with the creditor
Dispute the debt in full or part. The Court must be satisfied that there is a genuine dispute on substantial grounds. If the undisputed part of the debt is reduced below 750 pounds, the creditor cannot proceed to issue a bankruptcy or winding up petition
Raise a genuine and serious cross-claim, which either exceeds the debt, or reduces the undisputed debt to below 750 pounds
Pay an amount which reduces the undisputed debt to below 750 pounds
If you told the creditor beforehand that you disputed the debt, you should speak to us about setting aside the statutory demand (if you are an individual) or getting an injunction to restrain the creditor from issuing a winding-up petition winding up (if the debtor is a company)
Labels: bankruptcy winding up statutory demand debt
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