Can I serve a statutory demand if the debt is regulated by the Consumer Credit Act 1974?

You can serve a statutory demand on a debt regulated by the Consumer Credit Act 1974 if you have served a default notice and crystallised the default account. It is not a requirement to obtain a judgement before serving a statutory demand but it is advisable. If the debtor has a defence and applies to set aside the statutory demand and/or applies for a determination that the lending relationship was unfair, the court may set aside the demand or adjourn the statutory demand proceedings pending the outcome of the unfairness of the lending relationship. This puts the creditor at risk of paying the debtor’s legal costs.

(Mills v Grove Securities Ltd [1996] 4 WLUK 241; Central Bridging Loans Ltd v Anwer [2019] EWHC 1602 (Ch))