Recieved a 'Statutory Demand' appointment letter

CeeBeeDeeBee

Cheers Fermi - so if they are going to do it what do I recieve first - court papers (served on me) or a letter from their solicitor?

Is there any way to find out if they are going to do it or not? I guess I could send them another letter.

Is there a time limit for them to make me BR or can they leave it years.

Thanks

debt_doctor

CeeBeeDeeBee wrote: »

Is there a time limit for them to make me BR or can they leave it years.

Thanks

Insolvency Rule 6.12(7) states that “If the petition is based upon a statutory demand, and more than four months have elapsed between the service of the demand and the presentation of the petition, the affidavit must also state the reasons for the delay”.”

Which means that when 4 months or more have lapsed between SD and prenting the petition then they must satisfy the judge that there is sufficient reason for the delay - and risk losing their fee if the judge does not find the delay acceptable.

DD

CeeBeeDeeBee

Thanks DD

Do you think it's worth writing to the creditors solicitor to see if they will be petitioning?

skintflint103

An SD is only a frightener, anyone can download one and send/take it to any one. you only need to find out if they've lodge a hearing with the court which will cost them money. If they prepare adate and don't turn up it's all a wind up to scare you. the judge will NOT be amused. all you need to do is prove to the judge that you have a reasonable dispute and they will not be allowed to proceed with BK. Many judges veiw SD as an abuse of process because it's to easy to use.

CeeBeeDeeBee

Cheers Skinflint, the thing is I want them to do it.

My business collapsed last year and there is no way I can clear the debts so BR is the only option really.

I suppose I will just have to wait and see.

Tinytim

Do you own your own home, and is there any equity in it?

CeeBeeDeeBee

Hi TT, we have a little bit of equity but my total debts from the business are in the region of £150K so the £5-£10K of equity will go nowhere near lol!

So far I have heard nothing from this particular creditor about going through with it and making me BR which is a shame as I have had to book a date myself as another creditor has filed for a CO