Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Set It Aside: The Plain-English Guide to a Statutory Demand, the 18 Days You Have to Apply, and the Rule That Stops a Bankruptcy Petition Before It St

Set It Aside: The Plain-English Guide to a Statutory Demand, the 18 Days You Have to Apply, and the Rule That Stops a Bankruptcy Petition Before It St

Prior, Alex

Paperback

Personal FinanceGeneral LawSelf-Help

ISBN13: 9798171731632
Publisher: Independently Published
Published: Sep 3 2026
Pages: 128
Weight: 0.40
Height: 0.30 Width: 6.00 Depth: 9.00
Language: English

Somebody has handed you, or posted through your door, a document headed Statutory Demand. It mentions bankruptcy. It gives you three weeks. Before you ring them, and before you pay anything, there are four things worth knowing. It is not a court order: no judge has seen it, no court has approved it, and any creditor can print one. You have 18 days, not 21, because rule 10.4(2) of the Insolvency (England and Wales) Rules 2016 gives you 18 days from the date of service to apply to have it set aside, and the gap between those two numbers is where people are lost. Applying stops them, because section 267(2)(d) of the Insolvency Act 1986 says a bankruptcy petition may be presented only if there is no outstanding application to set aside a statutory demand: while yours is live they cannot petition at all. And under the bankruptcy level in section 267(4), currently 5,000 in the Act, they could not have petitioned anyway.

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