India is no different than other nations as there are huge problems over the debt collection in India. Having noted this, the GDC establishes a comprehensive mechanism that enables its clients to get back their lost resources from the bad debtors. Instead of clinging to their debtors, the crediting parties are advised of seeking assistance from our offices who can act and represent in the process of Debt Collection In India.
Some of the service the GDC sets in India includes the following:
- Setting of high standards for its clients in debt collection
- Presenting of ethical services based on the experience gained for a long time
- Provision of the successful mediation
- Resolving the disputes among the members.
While in India, GDC serves different types of its members. Those in the list of membership include:
- Exporters-For customs purposes, the party who makes the export declaration. The exporter sells its goods to someone in another country, known as the importer.
- Manufacturers Entity- makes a good through a process involving raw materials, components, or assemblies, usually on a large scale with different operations divided among different workers. Commonly used interchangeably with producer.
- The retailers-A business or person that sells goods to the consumer, as opposed to a wholesaler or supplier, who normally sell their goods to another business.
- Banks-An establishment authorized by a government to accept deposits, pay interest, clear checks, make loans, act as an intermediary in financial transactions, and provide other financial services to its customers.
- Accountancy institutions-Private (shareholder-owned) or public (government-owned) organizations that, broadly speaking, act as a channel between savers and borrowers of funds (suppliers and consumers of capital). Two main types of financial institutions (with increasingly blurred dividing line) are: (1) Depository banks and credit unions and (2) Non-depository insurance companies and mutual funds
- Hypermarkets-a superstore combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including full groceries lines and general merchandise.
The debt collection business is a relatively new concept in India. Retail consumer loans became an important product in the portfolio of the banking industry. Easy availability of credit also bought with it the problem of payment defaults, which eventually led to the emergence of debt collection agencies. The debt collection industry in India is growing at a faster pace and is surely poised for growth.
GDC truly recognizes that expert courtesy is a fundamental ingredient. We trust that sustained contact with a debtor is the main arrangement. Our staff is very prepared and completely understands the complexities of the difficult complications of debt arrangement. At GDC, you can rest guaranteed your portfolios are continually overseen by qualified groups of experts that are focused on delivering results.
Our recovery specialists have acquired years of experience in various industries which allows us to deliver optimum results at every stage of the recovery cycle. Though, our objective is to reach a positive amicable outcome, at times it is necessary to manage the recovery through legal process, we do not delay in initiating litigation having regard to the best legal options available like Law-Suit, Winding-up petitions, criminal complaints, with the client’s prior concurrence approval. Once in litigation, we routinely utilize pre-judgments remedies to gain leverage.