The County Court process takes 28 days in total -14 days to contest the application or agree a settlement.

If no settlement is agreed then the amount claimed must be paid in full. A Statutory Demand for payment takes 21 days in total -18 days to contest the demand or  reach a settlement, plus 3 days to pay in full. Do not ignore  either. Failure to pay either a CCJ or a Statutory Demand can be used to prove  the debt and used as part of Bankruptcy or Liquidation proceedings proceedings.

A CCJ or Statutory demand will damage the credit rating of your Company or your personal credit rating if you are a sole trader.

Failure to successfully contest the debt or to pay it in full may be used to show that your business is insolvent-cannot pay its debts on time. This in turn could be used to substantiate allegations of wrongful trading-leading to claims on your personal assets  if you are a company director.