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.
Main reasons why a local country debt recovery agency is so important rather than trying to recover from the UK are as follows:
The local International Debt collection Partners know:
- The local cultures
- The languages
- The laws
- Are in the same time zones
Herewith details of our debt collection service India:
India Debt Collection Services
Location of office(s)
Our corporate office is at New Delhi and we have working relation with attorneys pan India.
Number of staff
How long been operating in India
We have been operating since 2010
Type of debts ?
We offer both commercial (B2B) and consumer (B2C)
Statute 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 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?
3 to 9 months.
Can fees / interest be added to claims?
In India it is not usual for the debtors to pay interest in an amicable recovery.
Legal service 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.
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.