Statutory Demands, Bankruptcy and Winding Up

Statutory Demand

A cost effective way of getting paid quickly - suitable for larger claims

(i) Sole Traders, Individuals/Partnerships
This is a formal demand for payment of the unpaid debt within 21 days. The form is personally served and if the Debtor does not pay within 21 days he/they face the risk of a Bankruptcy Petition being presented

Our charges
£50 plus VAT plus Process Server's fee - between £40 - £85 plus VAT (depends on location)

(ii) Statutory Demand/Liquidation Letter i.e.

Our charges
£50 plus VAT plus Process Server's fees

1. Bankruptcy Petition - Individual Debtor(s)

If you instruct us to proceed with a Petition you have little or no chance of getting paid however if the Debtor has assets your legal costs and a Bankruptcy Order is made you will be paid as a first call on those assets

2. Winding Up Petition (Corporate Debtors)

The same prospects of recovery apply but the prospect of a Petition often does produce payment.

We charge £350 plus VAT and disbursements (Court fees, Agents fees, Process Server's fees for one and two)