Legal notice for recovery of money

One may face a situation, where it becomes important to get your own money back from someone, the legal course of action could be of assistance. Having sent a legal notice for the recovery of money, one issues 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 could also be termed as a formal communication between two parties before a legal action is initiated to get their due payment. A legal notice can be issued  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 guidance from an experienced advocate in your area. 

Rules in India for recovery of money

As has been discussed earlier, one of the important steps for recovery of money in India is sending a legal notice. A notice would generally be issued by an advocate on behalf of his or her client for settlement as well as to communicate the intention of his or her client to initiate the  legal proceedings. A legal notice for recovery of money would include the following-

• Name, description and address of the sender of the notice.
• Details related to the cause of action faced by the aggrieved party.
• Monetary relief which has been claimed by the sender of the notice. 
• The legal basis on which such monetary relief is claimed. 

Points to be remembered when drafting a Legal Notice

• A legal notice would need to be written precisely and appropriately on the advocate’s letterhead.
• The notice would include addresses and contact details of the advocate. 
• The legal notice must include the date on which this notice 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 has been issued from the client’s end, the name and details of the client must also be mentioned.
• It must be mentioned in the notice as to in which way the right of the sender was infringed as a reason for the act and omission by the receiver of  notice and the  compensation which shall be paid. Also, a specific amount of time is required to be mentioned specifically in the notice within which the reply to the notice must be sent. 
• The legal notice is also required to be signed by the advocate as well.

Conclusion

A legal notice for the recovery of money is a formal communication between two parties, warning the other party of a possible legal action which can be initiated to receive their due payment. 

In order to send a legal notice for recovery of money, it is advised that you seek legal guidance from an experienced advocate who could guide you through the proper legal procedure involved and proper legal language required in the legal notice.

Lead India offers you an experienced team of advocates who have been successfully dealing with civil as well as criminal cases and could offer you appropriate advice and assistance as required. Thus, if you wish to talk to a lawyer online or seek free legal advice, you may contact us