Collecting bad debts and outstanding receivables, or dealing with bounced cheques can cause distress. To help you recover your debt, startugenie has a team of experienced debt collection attorneys and financial professionals who can provide tailor-made solutions to recover what is rightfully yours.
The procedure for money recovery
- The first step in the process of money recovery will be to a send a legal notice to the defaulter.
- If you still don’t receive the payment, you can go for one of these options; Summary Suits, Negotiable Instruments Act, Criminal case or Insolvency and Bankruptcy Code.
- Our expert lawyers will guide you through the process to help you decide the best option.
What are the Different Means to Recover your Money?
Send A Legal Notice: Once a defaulter receives the notice, he or she has 15 days to return the money. In which a complaint is registered with the court, or one can file an FIR with the police..
Summary Suits: The quickest way to recover money will be ‘Order 37’ of the Civil Procedure Code, with Summary Suits, as it is based on written statements and it will speed up court proceedings
Negotiable Instruments Act: Under this act, there are provisions to recover debt or money for instruments like cheques, bills of exchange, etc,
Criminal Case: A criminal case can be filed against the defaulter for recovering the debt under the Indian Penal Code, 1860.
Insolvency And Bankruptcy Code: A case for insolvency for debt collection will be submitted to the adjudicating authority. The plea should be either accepted or rejected within 14 days.
Access to Experts
We connect you to reliable professionals and coordinate with them to fulfill all your legal requirements. You can also track the progress on our platform at all times.
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Clients are delighted with our service! They have consistently rated us highly because of our focus on simplifying legal requirements and providing regular updates.
200+ Strong Team
Our team of experienced business advisors are just a phone call away, should you have any queries about the process. Our team will ensure that your interaction with professionals is smooth and seamless.