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How To Get The Money You Are Owed

Money : Money Management

Ever been owed money? It can be an extremely difficult process to get it. Often you need to spend lots of time with letters, phone calls and threats of taking the offending party to court. But this can be a waste of time as well as being quite costly in its nature.

However, this needn't be the case. If the claim is over ?750 as is frequently the case, then you don't need to issue a summons at all. Instead you can by-pass the small claims and county court systems, and issue a notice under section 122(f) of the Insolvency Act 1986. These 'statutory demands' can be served against all types of debtor, whether an individual sole trader or a large limited company.

If the debt is then not pain within a week, you can issue proceedings to close down the debtor's business - they pay you now or cease trading in seven days time! You can obtain the correct forms from a law stationers - address to be found in the Yellow Pages.

You can complete the form yourself with ease. 95% of people issued with such a claim will pay up within the week!

By: Graham Owen on Sun, Jun 16th 2002

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