What to do if the debtor is not returning the money
23-Jun-2023 (In Recovery Law)
Somebody has borrowed money from me and now, he is not returning my money. I have transferred (NEFT/IMPS) to his bank account. So, I have these transactions on record.
what amount have you transferred and in what account? has the same been transferred to the receiver's personal account or a current account, as in a business firm or company.
do you have any written communication from his end wherein he has asked you for the money?
please share the complete details of the transaction.
do you have any written communication from his end wherein he has asked you for the money?
please share the complete details of the transaction.
How do I recover my Lent money?
To recover money owed, the lender can choose to settle out of court through Lok Adalat or arbitration. It is the fastest and least expensive way to recover money. To reach a settlement out of court, both parties must attend the hearing and be present.
How do I get my money back from Lent to a friend?
Write a contract
If the amount is large, you could also hire a lawyer or get an independent witness sign it. Transfer the money through your bank rather than in cash. This will ensure that a record is kept of the transaction. Ask your friend to repay the loan via a regular standing order.
How can I legally recover money from someone?
A lawsuit is the most efficient and effective way to recover debts from debtors. The civil remedy is to file a suit in a court of competent jurisdiction for the recovery of the money due from the defaulter. The lawsuit is filed under Order IV of the Code of Civil Procedure (1908).
How can I get money back from someone without proof?
Send a written request for payment.
You can file a claim in the Small Claims Court.
You can hire a lawyer to represent you in court.
If you feel youve been defrauded, you can file a police report.
You can get an order to seize the property of the person from the court.
First of all you have to send him a local notice through an advocate. If he not returned your money you can approch before concerned police station by giving an application or you can also file suit for recovery before civil court.
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These type of matters are maintainable before civil court only for recovery of money. Before you going to the civil court you should send a legal notice to the person to whom you given the money
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