Ladies and gentleman, boys and girls. I hope you are sitting down as I have something to tell you that will possibly change your business life. Two words- Statutory Demand. “Statutory what??” you are all thinking. A Statutory Demand is a legal document that gets you paid! Any business owed money can use it- but there are 3 conditions:
1. Your debt must be more than $2000.
2. Your customer must be a Pty Ltd company.
3. Your debt must not be in dispute. ie the customer has promised to pay and has not raised any issues with the amount.
Provided these 3 conditions are met, you can file and serve a Statutory Demand and 21 days later, if the debt is still outstanding, you can liquidate them, but who on earth would want that, and that is exactly the reason why you are likely to get paid within those 21 days. These things are lethal but hardly anyone knows about them. It bypasses the court action process and can be the single quickest way for you to get paid. Now I am sure you are all thinking “how do I get my hands on one of these magical, mythical documents?” and the answer is any good lawyer. Expect to pay around $400, but the benefit as you can see is immense. Cheers guys. Hope this new revelation makes your Saturday!