Preparing Statutory Demands: Validating Debts

The Creditor will have to make sure that the debt is one that is suitable for the Statutory Demand process. There are a number of factors to consider, not least the value in dispute. Many creditors, particularly lenders regulated by the FCA, will want to apply systematic rigour to the decision whether or not to proceed in this way. Most Creditors will usually consider a number of points, in order to validate the debt [...]

2020-09-09T12:40:52+01:00Categories: Data, debt recovery, Insolvency, process, Service|Tags: , , , |

Late Payment Interest

There is no codified or centralised regulation of the collection of commercial debts and it is unlikely that there will be any regulation to the same extent as there is in the consumer credit sector. The bargaining positions of parties to a commercial agreement is generally perceived to be more even and do not necessitate any regulation to intervene. In respect of Statutory Demands, the procedure available to set aside is the simplest [...]

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