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Debt Claim Letter

Debt Claim Letter Template for India

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Key Requirements PROMPT example:

Debt Claim Letter

"I need a Debt Claim Letter to recover INR 2,500,000 from a manufacturing company that has defaulted on three consecutive supply payment installments since January 2025, including a calculation of 18% annual interest rate as specified in our original agreement."

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Document background
The Debt Claim Letter is a critical document in Indian debt recovery proceedings, serving as a formal demand for payment and often a prerequisite to legal action. This document is typically used when informal attempts to recover debt have been unsuccessful and the creditor needs to escalate the matter. The letter must comply with Indian legal requirements, particularly the Indian Contract Act, 1872, and the Limitation Act, 1963. It should clearly state the debt amount, provide evidence of the debt, include payment history, and specify a reasonable deadline for payment. The document is crucial for establishing a paper trail and can be used as evidence in court proceedings if the debt remains unpaid. It's commonly used by businesses, financial institutions, and individuals seeking to recover outstanding payments in a formal, legally-compliant manner.
Suggested Sections

1. Sender's Details: Full name, address, and contact information of the creditor

2. Date: Current date of the letter

3. Recipient's Details: Full name and address of the debtor

4. Subject Line: Clear indication that this is a formal debt claim letter with reference numbers if applicable

5. Debt Details: Specific amount owed, date when debt was incurred, and nature of the debt

6. Payment History: Summary of any payments made and current outstanding balance

7. Legal Basis: Reference to the contract or circumstance that created the debt obligation

8. Demand for Payment: Clear statement of the amount demanded and deadline for payment

9. Payment Instructions: Bank details or other payment methods accepted

10. Consequences of Non-Payment: Statement of intended legal action if payment is not received

Optional Sections

1. Interest Calculation: Include when claiming interest on the original debt amount, showing calculation method and period

2. Previous Correspondence: Reference to prior attempts to collect the debt, including dates of previous notifications

3. Settlement Options: Include when willing to offer payment plans or settlement options

4. Third Party Authorization: Include when the letter is being sent by a debt collection agency or legal representative

5. Dispute Resolution: Include when offering specific dispute resolution mechanisms before legal action

Suggested Schedules

1. Statement of Account: Detailed breakdown of the debt, including original amount, interest, penalties, and payments received

2. Supporting Documents: Copies of relevant contracts, invoices, or agreements that evidence the debt

3. Payment History Log: Chronological record of all transactions and payment attempts

4. Previous Communications: Copies of previous demand letters or relevant correspondence

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions























Clauses


















Relevant Industries

Banking and Financial Services

Commercial Lending

Retail

Manufacturing

Real Estate

Professional Services

Healthcare

Construction

Information Technology

Education

Telecommunications

Small and Medium Enterprises

Relevant Teams

Legal

Finance

Accounts Receivable

Credit Control

Collections

Treasury

Risk Management

Compliance

Corporate Secretariat

Relevant Roles

Credit Manager

Accounts Receivable Manager

Financial Controller

Collections Officer

Legal Counsel

Finance Director

Credit Control Specialist

Debt Recovery Officer

Chief Financial Officer

Treasury Manager

Risk Manager

Business Owner

Company Secretary

Compliance Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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