Have You Been Served A Statement Of Claim?
The Time For Action Is Now. A Statement Of Claim cannot be ignored.
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Statement of Claim
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
Responding to a Statement of Claim
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:
- A Writ of Execution against property of the Company – the sheriff may seize property that will be sold to satisfy the debt
- A Writ for the delivery of goods – the sheriff may seize goods and return them to the creditor
- A Garnishee order served on your bank accounts – funds will be removed from your bank account to satisfy the debt to the creditor
- An Examination Order – you may be compelled to appear in Court and disclose the financial position of the company and yourself
- Bankruptcy – if the debt is more than $5,000, a creditor may apply to have you declared bankrupt
- Winding up in Liquidation – a creditor owed more than $2,000 may apply to have your company placed into liquidation
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.
Our Approach To Helping Your Financial Problems
The Insolvency Experts are ASIC licenced insolvency specialists who will help you FREE of charge and without obligation, 24 hours a day.
All you need to do is call to obtain answers, options and solutions to the most difficult financial situations.
The Insolvency Experts will tell you exactly what you need to know – not what you may want to hear. By doing this, we empower you, through the provision of correct information, to make the best and most informed decisions about your finances in difficult circumstances.
The Insolvency Experts who you will speak with are licenced professionals with over 30 years specialist insolvency experience. We have helped thousands of people just like you in the most dire financial situations.
We have a proven track record of honesty and trustworthiness and seek to maintain the highest ethical and moral standards while providing you with sound, professional advice.
Call – an ASIC licenced expert will assess your financial situation and provide expert tailored advice.
Answers – will be given to every question. There is no time limit on these consultations.
Options – will be canvassed and explained so you can make an informed decision that is best for you and your family.
Solutions – including both informal and formal solutions. These may include Company liquidation or Administration.