How to report a default?
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Search for the business name against whom default needs to be registered. Search can be made with any of the following criteria:
- Business Name
- Person Name
- CIN
- DIN
- PAN
- Mobile number
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In case details of the Company are not available on the website, you can add new business by giving basic details of the business.
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Report the default by filling up the details like amount outstanding and by uploading the supporting documents supporting your claim.
What happens next on reporting a default?
- On reporting a default, an email and text alert goes to the Debtor with an opportunity to defend or make payment within 21 days with 2 subsequent reminders.
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The Debtor can either ‘Agree to Pay’ or ‘Add Response’ against the claim. All correspondences on this default is visible both on Reporters and Debtors Dashboard and also email and text alerts are sent for the same to both the parties.
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In case Debtor has Agreed to Pay, but not settled the dues within the prescribed time, the Reporter can update the status to confirm reporting of Default.
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On Debtor failing to make the payment within 21 days, the claim will be confirmed as a Default on Debtors Watch website. Information in this relation will be sent to Reporter, Debtor and other members of Debtors Watch monitoring this customer. Any member searching for this Debtor will be able to see the details of this default.
