LEGAL NOTICE FOR RECOVERY
When it becomes a hard task for you to get your own money back from someone, the legal course of action comes to rescue. By sending a legal notice for recovery of money, you give a formal warning to the person who owes you money to repay, or else a legal process will take place.
Legal notice for recovery of money is a formal intimation between two people warning the other before legal action is initiated to get their due payment. To recover money from people who owe it to you, the role and importance of a legal notice for recovery of due becomes important. Legal notice for refund of money can be filed for anyone from a dealer to an employee, tenant, friend, company, bank, etc.
For urgent help or more sound and adept legal advice on how you could draft a legal notice for the recovery of your money, connect with us for Easydrafting in Noida, Greater Noida and Noida Extension.
India on Recovery of Money
This is the era of entrepreneurship and start-up businesses which is clearly boosting the developing economy of the country towards the path of financial freedom. It is very unfortunate that according to IBM Institute for Business Value and Oxford Economics, more than 90% funded startups are shutting down within primary five years of their business because of negative cash inflow i.e. issues with the recovery of money. In most cases, due to the lack of strong legal support and prudent legal advisors, people failed to recover a huge amount of money from debtors which led to the closure of businesses or other financial instabilities.
Drafting a Legal Notice
As we discussed earlier, one of the crucial steps for recovery of money in India is to send a legal notice. The legal notice is generally issued by lawyer on behalf of his/her client for the purpose of soliciting a settlement. A legal notice must contain the following points:
- Name, description, and place of residence of the sender of the notice.
- Details of the cause of action.
- The monetary relief claimed by the sender of the notice.
- The gist of the legal basis for the relief claimed.
Steps to Drafting a Legal Notice
- The legal notice must be drafted in the letterhead of an advocate which is to be specific and proper.
- It should contain addresses and contact details of the lawyer.
- The date on which the legal notice is issued including the name, address, and contact details of the person to whom the legal notice is issued is to be stated.
- Since the legal notice for recovery of money is going from the client’s end, the name and details of the client should be mentioned.
- It should be made clear in the notice as to how your right has been infringed due to the act or omission by the opposite party and for that what you want from him. A specific direction must be given to the opposite party along with a time limit.
- The notice must be signed (with date) by the advocate and the sender.
How to Find the Right Lawyer?
Easydrafting in Noida, Greater Noida and Noida Extension can help you in drafting and sending a legal notice for recovery of money from security deposits, a dealer, friend, etc. with just one click!
Easydrafting is a legal-tech service aggregator offering you with great services of lawyer discovery, price discovery, and case updates. You can look up a lawyer near you by visiting Easydrafting and hire the one that matches your case requirements. In this process, the case managers at Easydrafting help you throughout by offering end to end solutions for all your legal issues.