Statutory Demand

Avoid Stop Defend and Set Aside

Please read the following carefully - Creditors applied to make over 10,000 people Bankrupt in 2008 and figures for the 1st quarter of 2009 show an increase and the same quarter from 2008. As Licensed Debt Counsellors established for over 6 years we provide help to identify your options on a Statutory Demand that others often can't or don't, risking Bankruptcy with the possible loss of your home and for some, their job is serious.

Amongst the BIG mistakes we unfortunately hear day in day out is from consumers that relied on a DIY approach on a Statutory Demand based on something read on the internet, used the wrong issues on the set aside forms or didn't apply to set aside a Statutory Demand hoping it was a bluff, this will all seem very different if the creditor issues a Bankruptcy petition.

You only have 18 days to apply to stop set aside a Statutory Demand or risk being served with a Bankruptcy Petition, if you have missed the key dates we can often still help when others can't or don't but there is likely to be action you need to take now so please free phone call or email now, "the clock is ticking"

Mr. & Mrs. S - Thank you so much for your help, guidance and support in the recent situation that we had over a Statutory Demand, we actually came out on top, thank you so much. Mrs. G - set aside. Mr. V - set aside. Mr. P - set aside. Mr. S - set aside. Mr. D - many thanks for your advice, I know where to call if needed in the future, legal action stopped. Mrs. A - Creditor action withdrawn, set aside. Mrs. S - Set aside.

Banks, Financial Institutions, their Solicitors and debt collectors take recovering debts very seriously, whether its a well know lender for example RBS, Natwest, Barclays, HSBC, Lloyds TSB, Citi, Black Horse, Halifax, Welcome, or agents for example 1st Credit, Connaught, Arrow, Go Debt, HFO, Eversheds, Link, Marlin, Phoenix, DLC, Restons, Lowell, Red, Cabot, MCS, Shoosmiths, Robinson Way, Capquest, Moorhead James, don't make matters worse with your lack of knowledge and we always recommend you:-

Don't believe everything you are told by the creditor or their representative - get everything in writing.
Don't make agreements you can't keep, you will make matters worse.
Don't tackle this yourself based on something you have read on the internet.

Consumers often comment they "wished they had contacted us sooner" rather than wasting valuable time trawling the internet and forums, being confused by others they had asked for advice and in unsuccessful negotiations with the creditor and we provide free help on a Statutory Demand.

Question - Should you even receive a Statutory Demand?
Confused? You would be surprised how many cases we see where depending on the type of debt a Statutory Demand could have been avoided, should not have been issued or the Statutory Demand could have been set aside and Bankruptcy avoided.

Statutory Demand Help

Step 1 - Statutory Demand - The Debt

We help consumers worried about a Statutory Demand and the action you take can depend on the type of debt and your circumstances, whether you have just been threatened with a Statutory Demand or received the document, whether its a Loan, HP Car agreement, Credit Card, Mortgage or Secured Loan shortfall we can often help.

In many of the cases we see, creditors and debt collectors had not followed strict and often complex rules and regulations to protect consumers laid down for example by the Office of Fair Trading, the Consumer Credit Act and the Administration of Justice Act, when checks confirm this and the information is used in the correct way it can often help avoid, stop or set aside a Statutory Demand and remove the risk of Bankruptcy.

We are also contacted by consumers worried about a Statutory Demand and Bankruptcy over a debt amount they dispute and where this is confirmed and the information is used in the correct way it can often help avoid, stop or set aside a Statutory Demand and remove the risk of Bankruptcy.

If you are serious about repaying your debt and want to deal with a Statutory Demand this can often be a complex area. We provide help and information that others often don't or can't and a quick call text or email now could help you avoid, defend, stop or set aside your Statutory Demand and avoid any further legal action.

Mr. B - Thank you very much for your great help in getting me on the right track, being in debt was a big worry but for your help the worry has nearly gone. I won't think twice about recommending you.

If you have already decided on a course of action, would like a second opinion or just need help understanding forms 6.4 and 6.5 for an application to set aside a Statutory Demand if you contact us we would like to offer our advice and help.

Step 2 - Check your options to stop Statutory Demand

As established Debt Counsellors for over 6 years both on and off line the effects of a Statutory Demand leading to a Bankruptcy are often seriously underestimated and we cover this further if you continue reading.

When dealing with a Statutory Demand it is essential to understand your options especially if you have other debts and to help you make the right decision before taking the next step we can check your options.

Can issues identified in step 1 be used to help in your application to set aside a Statutory Demand and avoid any further legal action.
If you have other financial worries an IVA agreement can be used to stop or avoid a Statutory Demand by consolidating all your unsecured debts into one affordable monthly payment with interest and charges stopped.
Negotiation with your creditor can result in cooperation but unless you get this in writing and the Statutory Demand is set aside be careful.

Step 3 - Quickly help get you back in control

You may soon find that depending who you talk to or where you look on the internet Companies or Organisations can give you different and sometimes conflicting advice on what to do when dealing with a statutory Demand.

We will explain the pro's and con's of your options dealing with a Statutory Demand, please remember the "clock is ticking".

We strongly recommend you do not waste valuable time trying to negotiate with a creditor without looking at all your options only to find out a week later that no progress has been made and it is to late to apply to set aside the Statutory Demand. Do not allow yourself to be intimidated into an agreement with a creditor that is not realistic or you could make matters worse.

Statutory Demand - Be prepared

If you don't want to risk Bankruptcy you may have just 18 days or less to make some important decisions and if you plan to apply to stop, dispute, defend or set aside the Statutory Demand you have 18 days or less to do this.

If not your creditor will be looking within 21 days for either payment in full or an acceptable proposal to withdraw the threat of Bankruptcy and allow the Statutory Demand to be Set Aside however reaching an agreement other than a substantial or full payment can be very difficult.

If the creditor wanted small regular affordable payments the CCJ County Court system would achieve this but a Statutory Demand and Bankruptcy is under High Court jurisdiction which is very different.

You will find plenty of information on the internet about a Statutory Demand but unfortunately the effects of these are often underestimated or not properly explained on debt advice sites and making a mistake here can be very costly.

Did you know - for example

Some Creditors still use a Statutory Demand and pursue Bankruptcy even if you have no assets or property equity and they are unlikely to recover any money.
If the creditor is not bluffing and 21 days after a Statutory Demand issues a Bankruptcy Petition this is registered at the Land Registry for a home owner.
If you are a home owner this will stop you from doing anything with the property without the Courts approval.
If you do have equity trying to use your property at this stage to get a loan or re mortgage to pay the debt can be almost impossible because you have Bankruptcy Petition proceedings against you.

You can quickly see how if you are not careful and did not fully understand how serious a Statutory Demand can be how fast this will get away from you and potentially put you in an impossible situation.

This does not mean you should panic into completing a Statutory Demand Set Aside form, taking the first loan re mortgage or IVA or other debt solution that you come across or dismiss it as a creditors bluff but it does mean you should look at all the options.

Statutory Demand Information

A creditor usually issues a Statutory Demand as a final warning for repayment of an unsecured debt.
They should not issue a Statutory Demand just as a threat unless they are committed to taking further action.
They are likely to have done their home work and know whether you are a home owner or not and have assets to cover the debt.
Even if you have no assets a Statutory Demand must still be taken seriously as we see many examples where the creditor is unlikely to recover any money.
The debt must be £750 or over to issue a Statutory Demand.
If you do not come to an agreement or set aside the Statutory Demand they may start Bankruptcy proceedings after 21 days.
If you want to apply to have the Statutory Demand set aside you need to do this within 18 days.
You will need to complete forms 6.4 and 6.5 for an application to set aside a Statutory Demand.
You should take the application to set aside a Statutory Demand forms to your local Court that deals with Bankruptcy (not all do) by hand as they will normally witness these for you.
Your application to Set Aside the Statutory Demand will then be assessed by the Court.
This may or may not result in a hearing and or you may just hear the result by post.
If the Statutory Demand is not set aside you can in some circumstances appeal this judgment.

A Statutory Demand can affect you in many ways depending on your circumstances and we always suggest you also obtain legal advice but if you are prepared to do nothing and gamble that your creditors are bluffing or that you think you will win a case to set aside the demand without fully exploring the options and potential risks this is a tactic we would not recommend.

We do not charge for any help and information we provide, in some circumstances where we can't help, we may suggest you speak to another company or organsiation that can. Some may charge a fee and we may receive a payment from this company or organisation.

If you are not sure what to do next, need urgent help or just further information on a Statutory Demand please telephone or email in confidence today.

The call or email could change your life!

Confidential National Helpline - Call free 0800 622 6933

email: info@discreetdebtsolutions.co.uk

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