How to Draft a Legal Notice for Recovery of Money?

In one;s lifetime, one may face a situation sometimes where it becomes a hard task to get their own money back from someone who owes them, in such a situation a legal course of action can be  of assistance. By sending a legal notice to recover the  money owed, one issues a formal warning to the recipient to repay the amount due or else a legal process shall be initiated. 

Legal notice for the recovery of money can be understood in simple terms as a formal communication between two parties before a legal action can be initiated so as to receive the due payment. A legal notice could be sent from anyone from one doing business to a common individual who needs to get his due amount from a dealer to an employee, tenant, friend, company, bank, etc. For concise information on the subject as per the subject matter of your case, it is advised that you seek legal assistance from experienced advocates near you. 

Notice for recovery of money in India

As has been discussed above, one of the initial steps for recovery of money in India is sending the  legal notice. Legal notice will be issued by an advocate on behalf of his or her client either for the matter of settlement or to communicate his or her client’s intention of initiating legal proceedings. A legal notice for recovery of money will include-

• Name, description, address of the sender.
• Details about the cause of action for which notice has been sent.
• Monetary relief can be claimed by the sender of the notice. 
• The legal basis on which a claim for monetary relief is made. 

Points when drafting Legal Notice

• A legal notice must be drafted on the letterhead of the advocate and be specific and proper. 
• The advocate’s addresses and contact information must be included in the notice. 
• The date of issuance, the party to whom the legal notice was sent, and their name, address, and other contact information must all be included in the notification.
• In case a legal notice for recovery of money is issued , the name and details of the party sending must also be mentioned.
• Also, it must be mentioned in the notice as to how right of the sender was 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 is required to be specifically provided in the notice within which the reply to the notice could be sent. 
• The legal notice must also 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 a possible legal action which can be initiated to receive their due payment. 

If you realise that there is a need to send a legal notice for recovery of money, it is advised that you seek legal assistance from an experienced advocate who will guide you through the proper legal procedure required to be followed and proper legal language which is required in the legal notice.

Lead India offers you an experienced team of advocates who have been successfully handling matters related to civil as well as criminal cases and can offer you appropriate advice and assistance as required. Therefore, in case you want to ask a legal question or seek free legal advice, you may contact us.