Insolvency Solicitors in Kent & South East London
Aletta Shaw's civil litigation solicitors advise creditors and debtors on insolvency, including statutory demands, bankruptcy petitions and company winding-up. Insolvency can be a powerful debt recovery tool, but the rules are strict and the consequences serious. Free initial call available.
Key fact: A creditor can serve a statutory demand for a debt of £5,000 or more against an individual, or £750 or more against a company, as a first step towards insolvency.
A statutory demand is a formal written request for payment of a debt that can be the first step to making someone bankrupt or winding up a company. Source: gov.uk.
Frequently asked questions
What is a statutory demand?
It is a formal demand for payment. If it is not paid or set aside within 21 days, it can be used to petition for bankruptcy or to wind up a company.
I've received a statutory demand — what should I do?
Act quickly. You may be able to apply to set it aside if the debt is disputed. We can advise and act within the tight deadline.
Can insolvency help me recover a debt?
Yes, it can be an effective way to pressure payment, but it should be used carefully where the debt is genuinely undisputed. We advise on whether it is the right route.
Speak to Aletta Shaw Solicitors for a free initial call on 020 8301 4884, or book a consultation. Offices in Bexleyheath, Blackheath, Petts Wood, Tunbridge Wells and St Katharine Docks.