MINIMUM DEBT FOR STATUTORY DEMAND

31 August 2018

• Solicitors Liverpool
• corporate debtors
• individual debtors
• statutory demand
• Debt dispute liverpool
• debtor
• creditor
• bankruptcy petition
• bankrupt
• Insolvency rules
• insolvency act
• bankruptcy
• demanded debt

What is the minimum amount of demanded debt in a statutory demand?

For corporate debtors the minimum amount is £750.

For individual debtors the minimum amount is £5,000 – Under the Insolvency Act 1986 (Amendment Order 2015) which was revised on 1^st October 2015.

Although the sum of £750 still applies to bankruptcy petition prior to 1^st October 2015.