You may face a situation sometimes where it becomes a hard task for you to get your own money back from someone, the legal course of action could be of assistance. By sending a legal notice for the recovery of money, you issue a formal warning to the person who owes you money to repay the due amount or else you would initiate a legal process.
Legal notice for the recovery of money is a formal communication between two parties before a legal action is initiated to get their due payment. A legal notice could be sent from anyone from a dealer to an employee, tenant, friend, company, bank, etc. For further information on the subject, it is advised that you seek legal assistance from an experienced advocate in your area.
Rules in India for recovery of money
As already discussed, the important step for recovery of money in India is sending the legal notice. A legal notice is generally issued by an advocate on behalf of his or her client to settle as well as to communicate the intention of his or her client to initiate legal proceedings. A legal notice for recovery of money includes the following-
Name, contact information, and address of the notice's sender.
Details related to the cause of action faced by the aggrieved by the party.
Financial assistance requested by the notice's sender
The legal basis on which the monetary relief is claimed.
Points to be kept in mind when drafting Legal Notice-
Legal notice should be drafted on the letterhead of the advocate and must be specific and proper.
Legal notice should contain addresses and contact details of the advocate.
The legal notice must include the date on which it was issued and the name, address as well as other contact details of the person to whom the legal notice is issued must also be stated as well.
In case a legal notice for recovery of money is issued from the client’s end, the name and details of the client are also required to be mentioned.
It has to be mentioned in the notice in which way the right of the sender has been infringed as a reason for the act and omission by the receiver of notice and the compensation which should be paid. Also, a specific amount of time must also be mentioned specifically in the notice within which the reply to the notice must be sent.
The legal notice has to be signed by the advocate as well.
Conclusion
A legal notice for recovery of money could be understood as a formal intimation between two parties, warning the other party of possible legal action which could be initiated to receive their due payment.
To send a legal notice for recovery of money , it is advised that you seek legal assistance from an experienced advocate who can assist you through the proper legal procedure involved as well as the legal language which shall be appropriate for a legal notice.
Lead India offers you an experienced team of advocates who have been successfully dealing with civil as well as criminal cases and can offer you appropriate advice and assistance as required. Therefore, if you wish to talk to a lawyer online or seek free legal advice, you may contact us.
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