Debt recovery

skn (Querist) 05 April 2012 This query is : Resolved
Sirs, I am working as credit controller in pvt co. Kindly help me to know what are legal provisions, laws/acts helps to read about debt recovery from customer.

Is there any act specifically for debt recovery as it is US Fair Debt Collection Practice Act ??

Regards,

Mr. Sonappa
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Sankaranarayanan (Expert) 05 April 2012
Normally if any defoult then send reminder for the due. You get the confermation of balance with their seal of company if any. Even after issued reminder if they are not turned then you send legal notice for the debt with interest

skn (Querist) 06 April 2012
Sir, thanks.
Pl.mention the legal provision avaialable in such cases and imp. case laws if any.

The dues are older than 3 to 4 year. What is the legal course or hindrance in this?

Being a student of Law, also it will help me to learn.

Regards,
Sonappa

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Debt recovery

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