I have opened the post today and I have received a statutory demand from 1st Credit for my Barclaycard credit card debt. I am very worried about this. It was sent in the post with

'We attach a statutory demand. Please acknowledge receipt. Failure to comply with a statutory Demand is evidence that youa re unable to pay your debts and are insolvent within the meaning of the Insolvency Act. This could lead to a Bankruptcy Order being made against you.'

1st Credit are requesting that I call them to get the county court details.

What shall I do? I am in a Managment Plan but they are not accepting the payment I can afford!

This is very easy to say, as it is not me that has received the Stat Demand..........Ignore it!!

IMO I get the feeling that this is just another threat from a creditor. It is fairly rare for a creditor to issue a Stat Demand, as they do actually run a great risk in getting nothing, if you are seriously in debt.

Are you a property owner?

I think I would agree with Dementoid at this point.

In the past each time one of my clients has been issued a Statutory Demand, it has been delivered by hand, as proof of service.

Some debt collection agencies send out Statutory Demands by post in an effort to frighten debtors. Very often they have no intention of proceeding wiht a bankruptcy  but you can never be sure 100% that is what they are banking on!

Quite a bit of water has gone under the bridge since you first posted this issue. Have you heard anything else about your Statutory Demand?

If you have no assets and then a creditor may think twice about issuing a Stat Demand. Firstly, it does cost them to make you Bankrupt, also if they go through with it they may end up getting no money from doing this.

Maybe a Debt Management Plan would get them off your back and keep the creditor happier?

Or maybe Bankruptcy is the way ahead???

Hello Johnny,

Thanks, I did receive a reminder from them threatening to take legal action again and confirmed the amount that I owed them. I am in a Debt Plan, however these are refusing to allow me to pay them a contribution, I appreciate that it is minimal compared to what I owe them, but this is all that I can afford. I do not have anything for them to come and take. I do not own anything of any worth so I would have thought that it would be in their best interest to take whats on offer.

How long can you be in a Debt Managment Plan for?