Statement Claim Judgement

Received a Statement of Claim?

seem like a relatively minor situation can fast snowball into a significant issue with long-term consequences. The good news is, you don’t need to take on a Statement of Claim judgement alone. The experienced team behind Pherrus Financial Services is ready and willing to help you every step of the way. Learn more about our Statement of Claim service or get in touch with our friendly team today. Remember, the sooner you act, the better.

What is a Statement of Claim?

A Statement of Claim represents the first step in a court proceeding. This notice is issued to the directors of a company notifying them that the Court will now seek debt recovery. Debt owed by a company has been verified, and now, the company must respond to the notice within a 28-day period. It is critical that you seek professional advice as soon as you receive a Statement of Claim.

That way, you can secure the expertise and guidance you need to defend the claim before the Plaintiff attempts to have a Judgement Debt order passed. In short, don’t ignore a Statement of Claim. Act fast and secure the best possible outcome.

What is Judgement debt?

If you fail to respond to a Statement of Claim within the notice period, the Court will order you to repay the debt owed to the Plaintiff – this is known as a Judgement debt. A Judgement debt can be enforced in one of several ways:

A Writ of Possession issued in the Supreme or District Courts over land owned
A Writ of Possession over goods

Payment of the owed sum is made by obtaining one of the following:

A Charging Order
A Garnishee Order
A Writ for the levy property

If the Judgement debt is more than $2,000, the Plaintiff can apply to the Federal Court to have you declared bankrupt. As a company director, this is something you definitely want to avoid.

What should I do next?

If you do not respond to a Statement of Claim or Judgement debt fast, you could be subject to severe losses – if not criminal liabilities. We highly recommend contacting our team of financial specialists. We know the ins and outs of legislation relating to Statements of Claim. We will take the time to hear you out and understand your personal circumstances before recommending a realistic, actionable solution. If you want to achieve the optimal outcome, you must get a qualified professional on your side.There’s no two ways about it”

Book a FREE consultation with our tax and financial services experts

Don’t just accept our word when we say we believe we’re the best in business accounting, call our team now to book a FREE consultation. This gives you the opportunity to ask us questions and see how what we offer can meet your needs. It also gives us the chance to tell you more about what we’re about and how our customised, cost-effective service could transform the way that you do business.

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