Payment received from 3rd person other than debtors

[SHAAN NISHA]

Hi Everyone,

I want to know that if I acccept payment from third person on behalf of debtor than what compliance we need to follow? and which additional document we need to maintain?

Eg. Firm Name - A Debt - B (amount 10000/) third person - c We accept payment from c On the behalf of B.

Thanks in Advance

Shan

AI Summary

Guidelines for Accepting Third-Party Payments on Debtor's Behalf: Confirm Debtor Consent and Third-Party Agreement Required. A user inquired about the compliance and documentation required when accepting payment from a third party on behalf of a debtor. They provided an example involving a firm, a debtor, and a third person making the payment. The response advised obtaining confirmation from the debtor that the third party will pay the debt and securing the third party's agreement to pay on behalf of the debtor.