N245 equivilant for Business

[tsmedley]

Hi There,

Our limited company received a judgement which we admit but need time to pay. I know as an individual we'd need to submit a N245 to ask to pay by instalments but this is laid out for an individual. Would a letter to the court setting out a proposed payment plan suffice? Or should i try to fill a N245 as best i can?

Thanks in advance!

[ploddertom]

Re: N245 equivilant for Business

It will be a Forthwith Judgment and you are expected to pay immediately otherwise your Creditor could apply to have it enforced. For sole traders some Judges are now awaare that they need time to pay and will sometimes allow a Variation Order. You could be on a loser as a Ltd Co but you can but try. Have you tried to come to an amicable agreement with your Creditor?

[Alejabinson]

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