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I’ve Just Received A Statutory Demand From A Creditor, What Do I Do?

November 4th, 2016

“I’ve just received a statutory demand from a creditor, what do I do?”

Well, the legal debt recovery process has started so you need to do something within 21 days of receiving a statutory demand.

So your main options are: one, pay the debt in full; two, have the statutory demand set aside, which you should get legal advice about; three, go into a payment plan to pay the debt; or four, don’t pay the debt.

But, if you don’t pay the debt, you need to do something, because if you don’t do anything this may end up with a Wind Up notice, which could lead to far more serious issues for your business.

If you’re not sure what to do, please contact us and we’ll work through a solution for you.

If Your Business Finances Are Out Of Control, We Can Help.
Call us on 1300 905 107 or Click Here For More Information.

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David Hill
David has over 15 years in the insolvency industry – advising clients through restructuring of their business. His clear, “straight up” style provides clients with a strong direction of what they need to do, and how the process will work. As importantly, he brings empathy to the process – which is essential at a “high-stress” time for clients.

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