Bankrupt

Posted 4:52 27 October 2014

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Last time we looked at what’s involved in serving a statutory demand when someone owes you money. As promised, this week we are going to explain the next step in the process should the statutory demand not result in payment.

What Is The Process Of Being Made Bankrupt?

So you’ve served the Statutory Demand, waited the requisite 21 days to allow the debtor the chance to clear (or at least reach an acceptable agreement to pay in installments) the debt with either money or goods to the value of the debt and costs, and you are still owed money. What next?

It’s a tough decision to have to make someone bankrupt and it’s usually only done as a very last resort. Alpha1 Legal Services serve documents with due process using all of the ethical and expedient methods available.

 

bankrupt