Check the debt and document
The amount, parties, service and any dispute about liability matter. Bring every page and envelope, and record when and how the document arrived.
Business Disputes
Bankruptcy and Statutory Demands
A statutory demand or bankruptcy petition needs prompt attention. We can discuss the debt, the documents served and the legal steps that may be available, whether you are responding to a demand or considering recovery.
Understanding your next steps
How we can help
Understand the consequences
Bankruptcy concerns an individual, including a sole trader. Company insolvency follows different procedures. The effect on assets, business activity and other creditors needs careful consideration.
Consider alternatives
Insolvency proceedings are not suitable for every debt. A repayment discussion, a court claim or specialist debt advice may be more appropriate. We can identify the legal issue and whether further specialist support is needed.
A clear way forward
What happens next
What to have ready
Bring the demand or petition, hearing details, contracts, statements and any court orders. Prepare an accurate account of the debt and the reason for any dispute.
Your next step
Send the documents immediately if you have been served. We can confirm whether we can assist within the available time and agree the initial work.
Planning ahead
Fees and timescales
01 / Fees
What the costs cover
Urgent document review and representation at a hearing involve different work. We explain our fee basis, VAT and any anticipated court or specialist charges after seeing the papers. The cost of proceedings and the prospect of recovery both need consideration.
02 / Timescales
Timing and deadlines
Demands and petitions can require action within short periods. Negotiations do not automatically suspend a deadline or hearing. Do not wait for a creditor’s reply before seeking advice.
Read our published Price Guide, then contact us to confirm the work you need and the costs involved.
View Price GuideUseful to know
Your questions, answered
Is a statutory demand the same as a court judgment?
No. It is a formal demand with potential insolvency consequences. Its significance and the available response depend on the circumstances.
Can a limited company be made bankrupt?
Bankruptcy is for individuals. Companies have different insolvency procedures. Tell us the debtor’s correct legal identity.
Should I use bankruptcy to recover any unpaid invoice?
No. It is a serious procedure with conditions and risks, particularly if a debt is disputed. A different recovery route may be more suitable.
Are there alternatives to bankruptcy?
There may be. The options depend on the debts, assets and circumstances. Independent debt advice or an insolvency practitioner may be needed alongside advice on a specific legal dispute.
General information for England and Wales. Contact us for advice about your circumstances.
SJS Solicitors · Balham