STATUTORY DEMANDS – DO NOT IGNORE THEM
To avoid bankruptcy, when served with a Statutory Demand – you must act straight away. Never ignore a Statutory Demand.
A Statutory Demand is a precursor to either the liquidation of a company or the bankruptcy of an individual. If you don’t repay the debt in full or come to some other arrangement within 21 days of the Demand being served on you, your creditor can apply to Wind Up the company or start the process to make you bankrupt.
If the amount is disputed and this can take many forms, then you with the help of Bell & Company can apply for the Statutory Demand to be set aside.
YOUR OPTIONS IF YOU RECEIVE A STATUTORY DEMAND
If you do nothing, your creditor may go on to make you bankrupt. If you do not want to go bankrupt, then doing nothing – is a bad idea.
It is not guaranteed that your creditor will commence proceedings to make you bankrupt, and there are additional costs after the statutory demand is issued. This is a significant risk and would leave you exposed.
Further, if you own your home or you have significant asset you must take action and call us now.
Application to Set Aside Statutory Demand – Negotiate Debt
In many of our cases, we look to have the Statutory Demand set aside. This, and Controlling the narrative allows Bell & Company and the client to work through your options.
Bell & Company devise strategies which will bring a resolution to your case using the time allowed by the various deadlines of the Statutory Demand.