“I’ve just received a statutory demand. What does this mean for my business?”

A statutory demand should be taken very seriously and you should contact your solicitor immediately. If you receive a statutory demand then you have 10 working days to dispute the debt or 15 working days to pay the debt.  If you do nothing liquidation of your company by the court may follow.

Need to send a statutory demand?

The statutory demand process provides a quick procedure for ensuring payment, or for finding out whether payment is possible.  This process is intended to be a first step in making an application to put a company into liquidation, when a company genuinely cannot pay.

McDonald Vague can help you issuing statutory demands.

The earlier you speak to us the better

The earlier you speak to us the better, as we may be able to give you more options. We will listen carefully to your position and assess your situation based our knowledge and experience.

How can McDonald Vague help?

We offer free and confidential advice to company directors and creditors facing financial difficulties. We will listen to your position and give you our best advice on helping you to resolve your situation.