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| T O P I C R E V I E W |
| Tracy.sh |
Posted - 23 November 2011 : 17:29:27
Hi my partner has been served with a Statutory Demand under section 268 (1)(a) of the Insolvency Act 1986 Debt for Liquidated sum payable immediately by the H M Revene. For the sum of 5,787,85. and over £1,500 is penalty, surcharge and interest. We have contacted the CAB is there any other information you could provide us to do. We have requested if they will take a monthly amount and this has been refused and they will only accept the full amount. |
| 1 L A T E S T R E P L I E S (Newest First) |
| Richard P |
Posted - 24 November 2011 : 08:56:01
Hi Tracey
(this is copied from HMdirect.gov web site)
If you receive a statutory demand you have:
•21 days (or 28 if you live abroad) to ‘satisfy’ the demand
•18 days (or 22 if you live abroad) to ‘set aside’ the demand - challenge it in court to get it cancelled
A demand is satisfied if the debt is ‘settled’ (paid in full) or ‘secured’ (an agreement is reached to pay it, for example, in instalments).
You shouldn’t ignore a statutory demand. If it isn’t satisfied or challenged, the creditor (person owed money) can apply to the court to issue a bankruptcy or winding-up order against you.
me speaking / typing
HMRC will apply for bankruptcy petition. CAB are not always able to see you within the time frame and although they are extremely helpful, they are not specialist in the insolvency field.
if your case is the slightest bit complex I would encourage speaking to an expert
Good Luck Richard,
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