Sabkuch Legal is an online legal portal to cater to all legal requirements of individuals, MSEs, Start-ups as well as corporations. It is a brainchild of Mr. Rajiv Sarin, a renowned name in the field of law having over thirty years of experience working with organizations such as Coca Cola, Unilever and HCL
Recovery refers to the collection of over dues which are recovered on an installment basis depending on the nature of the business. The recovery and collection do not allow following any method that hurts the dignity and respect of the customer. The fair practices are followed to collect the dues or repossession of the security and promote customer’s confidence and the long-lasting relationship with the Bank or NBFC. The repossession of the security aims to recover the dues in case of any defaults instead of any financial distress for the customer. The repossession only happens after many attempts and discussions with the customer to resolve the default situations. It’s an exception that the customer’s financed asset is repossessed by the bank. This only happens if the customer violates any of the terms and conditions of the loan agreement.
In case of secured loans repossession of property is done to recover the dues of the lender and not to hurt the borrower’s dignity in any form. The recovery process involves the repossession, valuation of the asset and realization of the outstanding amount by way of sale of the asset. The repossession is done only after the final notice is sent to the borrower and the process is done by keeping all legal formalities in mind. The Bank/ NBFC will ensure the safety and security of the property possessed by the Bank/ NBFC.
Sabkuch Legal is one of the best in the domain in filing recovery cases.Benefits of recovery cases
Recovery refers to the collection of over dues which are recovered on an installment basis depending on the nature of the business.What is difference between debt recovery and debt collection?
Debt collection is done by creditor itself whereas debt collection is done by a third party appointed by creditor.What is the primary benefit of a recovery case?
Recovery case helps in quicker collection of money from the customer.How long does Sabkuch Legal take to commence a recovery case?
We try our best to prepare and dispatch recovery notice in shortest possible time.