Are creditors threatening debt recovery action? It’s time to act. Creditors who have not been paid may lodge a Statement of Claim with the Court and the process is one that should not be ignored.
A Statement Of Claim Can Involve:
Debt Recovery Action
Drawn Out Court Process
Ignoring a Statement of Claim can lead to a creditor applying for Judgement and in turn, a raft of other remedies. Here are the most important questions answered.
What is a Judgement Debt?
A Statement of Claim allows the recipient 28 days to pay a debt or file a defence to the claim.
If you don’t react to the Claim, a creditor may apply and the Court may order judgement for the debt and also interest and costs.
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How is Judgement enforced?
A judgment may be enforced in a number of ways:
What should I do?
A Statement of Claim needs to be acted upon as the potential consequences are serious.
Don’t delay in acting. Call The Insolvency Experts for free, no obligation help regarding insolvency and liquidation.
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