Claims above ?5,000 are settled using the fast-track process and above ?15,000 are settled through multi-track process. In cases where the creditor receives a default judgment as opposed to the debtor, the creditor has two options to recover his debt from the debtor: he can either appDebt is an important constituent of a company’s operations and has tremendous benefits utilized in a planned manner. Manufacturers and providers of various services and products have to give their clients adequate credit limits, to retain them in this competitive landscape. But non-payment of dues causes significant distress to the lender. It is a recurring problem in all the businesses and business owners must be equipped with all that is necessary to fight these odds.

Ways of Debt Recoveries:

Debt can be recovered in several ways. The lender can begin his debt recovery process by simply calling up the defaulter and issuing him a deadline for the debt repayment. If repeated calls are vain, you may go to the country court. The court has three methods of monetary dispute settlement: Small Claim Process (SCP), Warrant of Execution (WoE), and Section 65 proceedings. The court uses any one of these methods to recover debt, depending on the amount of money involved.

The SCP is most popular, as it is simple and inexpensive. There are two ways of dispute settlement in this method: fast-track process and multi-track process. Claims above ?5,000 are settled using the fast-track process and above ?15,000 are settled through multi-track process. In cases where the creditor receives a default judgment as opposed to the debtor, the creditor has two options to recover his debt from the debtor: he can either app

nt of dues causes significant distress to the lender. It is a recurring problem in all the businesses and business owners must be equipped with all that is necessary to fight these odds.

Ways of Debt Recoveries:

Debt can be recovered in several ways. The lender can begin his debt recovery process by simply calling up the defaulter and issuing him a deadline for the debt repayment. If repeated calls are vain, you may go to the country court. The court has three methods of monetary dispute settlement: Small Claim Process (SCP), Warrant of Execution (WoE), and Section 65 proceedings. The court uses any one of these methods to recover debt, depending on the amount of money involved.

The SCP is most popular, as it is simple and inexpensive. There are two ways of dispute settlement in this method: fast-track process and multi-track process. Claims above ?5,000 are settled using the fast-track process and above ?15,000 are settled through multi-track process. In cases where the creditor receives a default judgment as opposed to the debtor, the creditor has two options to recover his debt from the debtor: he can either app

debt recovery process by simply calling up the defaulter and issuing him a deadline for the debt repayment. If repeated calls are vain, you may go to the country court. The court has three methods of monetary dispute settlement: Small Claim Process (SCP), Warrant of Execution (WoE), and Section 65 proceedings. The court uses any one of these methods to recover debt, depending on the amount of money involved.

The SCP is most popular, as it is simple and inexpensive. There are two ways of dispute settlement in this method: fast-track process and multi-track process. Claims above ?5,000 are settled using the fast-track process and above ?15,000 are settled through multi-track process. In cases where the creditor receives a default judgment as opposed to the debtor, the creditor has two options to recover his debt from the debtor: he can either app

Section 65 proceedings. The court uses any one of these methods to recover debt, depending on the amount of money involved.

The SCP is most popular, as it is simple and inexpensive. There are two ways of dispute settlement in this method: fast-track process and multi-track process. Claims above ?5,000 are settled using the fast-track process and above ?15,000 are settled through multi-track process. In cases where the creditor receives a default judgment as opposed to the debtor, the creditor has two options to recover his debt from the debtor: he can either app

Claims above ?5,000 are settled using the fast-track process and above ?15,000 are settled through multi-track process. In cases where the creditor receives a default judgment as opposed to the debtor, the creditor has two options to recover his debt from the debtor: he can either apply to the court requesting it to issue a WoE to the debtor/ his property or resort to Section 65 of the Magistrate's Court Act

Warrant of Execution (WoE):

It is an order of the court that empowers the Sheriff to confiscate the debtor’s property and sell it to pay the creditor his dues. The Sheriff first tries to get hold of movable properties (such as cars and furniture). It is only when the movable properties are insufficient to clear the debt amount; immovable properties such as real estate are auctioned. Such confiscated properties are sold in public auctions and the money raised is paid to the creditor. If some dues remain even after sale of the debtor’s property, the debtor is asked to arrange for it in his own ways.

Section 65 Proceedings:

If the debtor agrees to clear his dues in installments, that are generally small amounts payable weekly or monthly, and the creditor agrees, the court clerk is authorized to make this a court order. However, if the debtor fails to pay the lender, then the lender is authorized to re-issue an application as per Section 65 (A), to call the debtor to the court. If the debto