i have had a statutory demand served upon me , i have applied to have this set aside, if i go bankrupt i stand a chance i will lose my job as i work for a money transfer buisness will the judge consider this before he makes his decision
I m afraid I can not help you in regards to what the judge will decide. Just a few questions that may help us to advise you more do you have a property and if so is their any equity in it. Also have you tried to negotiate a repayment plan are a full and final settlement. Is this your only debt if not you could possibly look at doing an iva or dmp if you have some disposable income.
the stat demand would not be set aside by the judge as it may affect your job. Normally to set one aside you would need to demonstrate that you are in the process of raising the monies owed or have a viable payment plan.
As John says the effects upon you are not cause for having the Statutory Demand set aside.
You only need to owe 750 or more for someone to petition for your bankruptcy.
I have seen lots of defences over the years from the amount os incorrect to various others, however the only one really likely to get a judge to stay the process is the offering of a realistic prospect of the creditor getting paid in an acceptable time.
Incidentally thousands of statutory demands are served every year, however very few actually come to conclusion because it can cost the creditor £2000 or more to petition ( inc solicitors fees) . It does however serve the purpose of bringing one back to the negotiating table and getting a payment plan organised.
i have had a statutory demand
Posted - 15 April 2009 : 09:02:17
