1. When you can make a statutory demand
You can make a statutory demand to ask for payment of a debt from an individual or company.
Anyone who’s owed money (the ‘creditor’) can make a statutory demand. You don’t need a lawyer.
If the debt’s over 6 years old, you can’t usually make a statutory demand. You can get legal advice instead.
There may be faster ways of getting smaller debts paid than making a statutory demand.
When the individual or company that owes you money (the ‘debtor’) receives a statutory demand, they have 21 days to either:
- pay the debt
- reach an agreement to pay
You can apply to bankrupt your debtor or close (‘wind up’) their company if they don’t respond to the statutory demand within 21 days.