Information For Those Who Are Owed Money

If you are owed money, we understand what a stressful time it can be. Trying to find a solution, especially when it’s a complex situation, can be difficult and time consuming.

Usually the first course of action is to issue a letter of demand. If this doesn’t work and the debtor hasn’t issued an alternative solution, such as a debt agreement proposal (Part X Agreement), then you may decide to issue a bankruptcy notice. This is a complex process and obtaining legal advice is essential.

If it is a company that owes you money rather than an individual, the process is slightly different. You will need to send them a creditor’s statutory demand instead of a letter of demand and a liquidation notice instead of a bankruptcy notice.

Trying to obtain money from a company rather than an individual is also more complex. At Caledonian Insolvency Services, we work together with advisers to ensure all possible options are considered and the most appropriate solution found.