Appointment of Liquidator and his fees- Recovery of bad debts
Liquidation of Corporate Persons can also be considered as an effective method of recovering bad dues. Lately Insolvency Code has taken a trend in the business sector.
Liquidation of Corporate Persons can also be considered as an effective method of recovering bad dues. Lately Insolvency Code has taken a trend in the business sector.
To initiate recovery procedure one can approach the National Company Law Tribunal which exercises the power to dispose cases under Insolvency Code.
Here we will briefly discuss about the sound financial status of a Company and how it can have a positive impact on framing Debt Recovery policies.
An Article about the second step for presales i.e to find out the size of the business and how it is beneficial for framing a policy on Debt recovery management.
In this article we will elaborately discuss about the goodwill of the company and how it can benefit in framing debt recovery policies.
A detailed article where we discuss about the status of a company and how it can influence in framing debt recovery policies.
Outsourcing of debt recovery is an under- utilized alternative method, despite being more beneficial its potential has not been fully exploited.
In this article we will briefly cover the legal remedies one can resort to against their debtors in case there is default in paying the loan amount.
An article about the scope of debt recovery and how money can be recovered from debtors even if there was some folly while executing the contract, or the required agreement went missing.
The company which is undergoing loss because of bad debts can sell its debts to a third party buys back its debts on an agreed amount.
The secret to any successful business is good customer relations. Don’t allow too much time to pass without notifying your client that credit terms have been broken.
You have a statutory right to claim interest and compensation on late commercial payments. But are you still not being served the payment that your invoice states very clearly?
For companies, partnership firm, proprietorship firm and traders etc., can file a suit for recovery of their unpaid bills/ Business due amount or payment where there are any written contract/agreement between the parties.
The fact is that all those who default don’t do it intentionally but your money is important so is recovery of bad debt, which is owed to your company by your debtor.
Outsource your work to debt recovery management organizations who while maintaining the harmony of your business relations will realize your debts with their expertise.