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Document the Debt : Ensure all documentation related to the debt is complete and accurate, including contracts, invoices, and payment records.
Send Demand Notice : Send a formal demand notice to the debtor, requesting payment within a specified period (typically 15-30 days).
Negotiate :Attempt to negotiate a repayment plan or settlement with the debtor before pursuing legal action.
Consult a Lawyer : If negotiation fails, consult with a lawyer to assess the case and determine the best legal course of action.
File a Case : File a debt recovery case in the appropriate court or tribunal, providing all necessary documentation and evidence.
Attend Hearings : Attend court hearings and present your case, including all evidence and witness testimonies if applicable.
Appeal : If dissatisfied with the court's judgment, the creditor or debtor can file an appeal in a higher court within the stipulated time frame.
Execution of Order : If the debtor does not comply with the judgment, file for execution of the order to enforce payment. This may involve legal actions like attaching the debtor,s assets or garnishing wages.
Settlement :Engage in settlement negotiations at any stage if both parties agree to terms, potentially avoiding prolonged legal proceedings.
Professional Assistance :Engage debt recovery agencies or legal professionals to handle complex cases or when dealing with uncooperative debtors.
