Debt recovery law refers to the legal processes and regulations involved in the collection of outstanding debts owed by individuals or entities. It provides a legal framework for creditors to pursue and recover the money owed to them. Debt recovery laws outline the rights and obligations of both creditors and debtors, establish procedures for initiating debt collection actions, and govern the methods that can be employed to recover the debt, such as negotiation, demand letters, mediation, or legal actions like filing a lawsuit or obtaining a judgment. The goal of debt recovery law is to facilitate the fair and efficient resolution of debt disputes and enable creditors to recover the amounts owed to them.