Bad Debt Recovery

Bad Debt Recovery

Bad debt recovery is the process of retrieving outstanding payments from customers or clients who have failed to meet their financial obligations.

These debts are often considered "uncollectible" or “written off” by the original creditor, as they have exhausted their own internal collection efforts. We specialise in converting such bad debts into liquid assets through a legal process.Through legal action and professional negotiation, safeguarding the financial stability of our clients.The firm has handled several cases on:

The firm has handled several cases on:

• Debt Collection Litigation: Filing lawsuits against debtors in civil court to legally enforce the debt collection. This may involve:
  • Legal Notices: Summons under the Negotiable Instruments Act, filing Recovery Suits; initiating legal action by serving the debtor with legal documents.
  • Trial: Presenting evidence and arguments to a judge or jury to obtain a judgment in your favor.
  • Post-Judgment Collection: Pursuing enforcement of judgments through methods like wage garnishment, bank levies, and property attachment.
• Debt Collection Negotiation:
  • Settlement Negotiations: Working with debtors to reach a mutually agreeable settlement, such as a reduced payment amount or payment plan.
  • Debt Restructuring: Assisting in restructuring the debt by extending payment terms, modifying interest rates, or consolidating multiple debts into a single payment.
• Creditor Rights Counseling:
  • Advice on Creditor Rights: Guidance on your rights as a creditor under applicable laws.
  • Risk Assessment: Evaluating risks and potential costs associated with pursuing debt collection.
  • Legal Strategy Development: Creating a comprehensive legal strategy tailored to your specific situation and the nature of the debt.
• Other Services:
  • Enforcement: Assisting with enforcing liens on property to secure payment of the debt.
  • Bankruptcy Proceedings: Advising on rights and options in bankruptcy proceedings involving debtors.