India Debt Collection – No Win No Fee
Creditreform operates a global specialist International debt collections service. We have local offices and fully approved expert international debt collection agency partners in every country worldwide. All our International debt collection agency partners and offices operate on a No Win No Fee basis charging an agreed commission against monies recovered only. All our international offices and partners initiate the collection processes by sending the debtors a debt collection letter to introduce their involvement.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from a debt collection agency UK are as follows:
The local International Debt collection Partners know:
- The local cultures
- The best methods of initiating debt recovery letters and processes
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service India:
India Debt Collection Services
Location of debt recovery office in India?
Our corporate office is at New Delhi and we have working relation with attorneys pan India.
All debt collection letters are sent by the local head office.
Number of debt collection staff?
25. Each staff member is allocated a client and all their debt collection letters are personalised in order to effect the best response results from debtors.
How long have you been operating a debt recovery service in India?
We have been operating since 2010
What type of debt collection services do you provide? Do you do commercial debt recovery (B2B) and consumer debt recovery (B2C)?
We handle both Business to Business debt recovery cases and Business to Consumer debt collections cases. There is different content for business to business debt collection letter templates and business to consumer debt collection letters templates.
Statue of Limitation in India?
It is three years from the date of due date of the invoice but if there is any written acknowledgement of the debt by the debtor within the said three years then limitation period will be three years from the date of such acknowledgement.
What is the debt collection process in India?
India Debt Collection process is the same as in Europe. After we receive the claim, it will be entered into our system and case will be examined by our attorney. Thereafter an acknowledgement will be sent to the client. Immediately thereafter we establish contact with the debtor through phone and email. Regular follow ups are made in order to expedite the recovery. If we find amicable collection is not possible then legal action is recommended wherever is feasible
Average length of time to collect a debt?
3 to 9 months.
Can late payment fees / interest to be added to claims?
In India it is not usual for the debtors to pay interest in an amicable recovery.
Details on legal service / process in India?
In India we can initiate recovery suits/ summary suits and insolvency proceedings against the debtor.
If the debtor is an incorporated entity and the debt is undisputed it is recommended to initiate insolvency proceedings against the debtor which will pressurise the debtor to settle the matter. We will require a Power of Attorney from the client to proceed legally. In all other cases we can file recovery suit.
Creditreform has approved partners worldwide and our preferred partner in India is no exception. They have to meet Our strict international debt collection policies to ensure clients always receive the best possible service. Our UK team work very closely with our India colleagues on all cases being handled making sure that clients are kept up to date every step of the way.
We provide all our international debt collection services on a No Win No Fee basis and India is no different. Commission rates are always pre agreed before commencing the instruction. We also provide a pre-instruction check on the debtor to ensure they are still active and trading.
Although there is a large time difference with India, some 5.5 hours, our teams work out of hours to ensure that any urgent matters can be dealt with immediately.
If legal proceedings in India are recommended by our partner no actions will be undertaken without the client’s instructions so no unknown costs will be incurred for this process.
India Business Credit Reports
Creditreform provides over 88 million international business credit reports throughout Europe and 200 million international business credit reports worldwide. We provide freshly investigated India Credit Reports which can be done prior to trading to make sure the company you will be dealing with can meet the commitment or once the debt becomes overdue to ensure the debtor can meet the amount owed.
India Tracing Agents
Creditreform’s debt collection company service also uses expert local India tracing agent services to locate any absconded debtor. This debtor tracing service is provided on a No Find No Fee basis only charging for a successful trace.
Specialist Debt Recovery Experts
There are many unique requirements to recovering international debts in all countries including India debt collection services which differ from the UK and therefore it is very important that cases are handled directly by our expert international debt collection agencies and not from debt collectors UK. This method of international debt collection sets Creditreform aside from the competition who in many cases try and recover debts from a UK debt collector only. Using the local offices and partners enables us to achieve a far greater success rate and our No Win No Fee service together with competitive commission rates against monies recovered only ensures you get the best service.