Decode a Statutory Demand Letter

A statutory demand is one of the more serious letters a creditor can send, and the clock starts the moment it lands. This explains plainly what it is, why it's serious, what's being claimed and whether the amount is itemised, then the time limits and the actions actually open to you. You respond inside the deadline instead of freezing and missing it.

<context>
You have received a statutory demand from a creditor claiming you owe them {AMOUNT_OWED}. You need to understand what this document means and what actions are available to you.
</context>

<task>
**Translate the statutory demand into plain English:**
1. What it is: explain what a statutory demand is and why it is serious
2. The debt: what the creditor is claiming and whether the amount is itemised
3. Time limit: how many days you have to respond and what happens if you do not
4. Your options: paying, disputing the debt, applying to set it aside, or negotiating
5. Immediate next step: the single most important thing to do within the next 48 hours
</task>

<output_format>
- Plain-English breakdown of each section
- A clear "do this now" action at the end
- A note on where to find free debt advice
</output_format>