Jump to Main Content

Statutory demands

Are you in arrears with payments to a credit card, store card, personal loan or catalogue?

If you are, and you haven’t been able to agree on repayment terms, the company may decide to take further action that can lead to bankruptcy proceedings.

pdhf-pound pdhf-pound-coinspdhf-poundspdhf-pound-notespdhf-house-ownpdhf-house-rent pdhf-house-family pdhf-briefcasepdhf-job-seekerpdhf-retired pdhf-working-hourspdhf-studentpdhf-jobpdhf-phonepdhf-house-otherpdhf-debt-2pdhf-debt-3pdhf-debt-4 pdhf-debt-1pdhf-yespdhf-nopdhf-checkpdhf-livechatpdhf-self-employedpdhf-whatsapppdhf-intercom
  • Answer a few simple questions
  • Choose help by phone or Online
  • Get your personalised debt solution

We could offer you a solution that will reduce your monthly payments with the potential of freezing interest and charges, and even writing off some of the debt.

The options PayPlan can offer

The options PayPlan can offer vary depending on your situation, and there is no obligation to progress if you do not wish. We will simply talk through the different solutions to help you decide what is best for you. For more information on the solutions we offer/advise on, please see: and .

Best time for us to call

If a creditor sends you a Statutory Demand, this is a formal legal document that requires you to agree a repayment plan with them, or else they can start bankruptcy proceedings against you. You may apply within 18 days to your local County Court to “set aside” the Statutory Demand under the following circumstances:

  • There is a dispute regarding the amount of money owed
  • The sum owed is less than £750
  • The demand has been issued in error
  • You are able to pay the debt
  • There is a Counterclaim of more than the money owed

Ignoring a Statutory Demand will allow the creditor to present a petition for bankruptcy against you 21 days after the date of the statutory demand.

Some companies use the issuing of a statutory demand as a tactic to frighten debtors but they should always be taken seriously. In particular a statutory demand issued for VAT by the HMRC  should be regarded as putting its recipient in extreme financial danger.

More information on Bankruptcy

Contact Us

For immediate and free debt advice please call PayPlan free on 0800 316 1833 or use our Debt Help Form to submit your debt problem online.

Get advice now

0800 316 1833 Request Call Back