(This information is our opinion only and we are not solicitors).
The Statutory Demand is a formal document drawn up by a solicitor against a company owing more than $2,000.
The debt must be over $2k and must be undisputed.
Should one ignore the fact that the debt is disputed, you may risk being sued for damages.
Statutory Demands we have served on companies have proven effective in getting the debt paid.
Once the Statutory Demand is served, the company has just 21 days to pay or
it is faced with being would up with ASIC through the Federal Court.
Written by Richard Adams, Licenced debt collector DCL5286
First International Debt Collection