Debt Collection Agency Dubai

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In Dubai, the legal procedures for retrieving the debts are well controlled.

Debt recovery is a mechanism by which the debtor pursues outstanding interest. Dubai has developed several guidelines to facilitate the efficient and timely debt recovery.

1. Challenges of debt recovery in Dubai

1.1. The accumulation of unpaid loans poses difficulties. A couple are listed below.

• Lack of coordination;
• Lack of knowledge;
• Inexperienced with providing the correct steps.

2. Debt recovery procedures

2.1. Initial stage: A creditor may submit a letter of prior intervention. This letter is significant in that it points out the debtor's unpaid debts.

2.2. This letter of pre-action sets a strict deadline for debt payment, and sometimes an offer to meet and discuss and enter into a settlement

3. Amicable agreements

3.1. Negotiations: with the claimant is the first attempt to reach an amicable settlement before any lawsuit is pursued. Both sides should be vigilant in determining and finding a mutually acceptable agreement.

3.2. The debtors could also end up paying late fees or interest after settlement on outstanding debts.

4. Arbitration

4.1. Parties may choose arbitration to settle debt recovery disputes. The arbitrator hears both parties testimony and takes a final decision on both cases.

5. Settlement remedies

• Providing longer payment terms;
• Offering discount;
• Reducing the amount of the debt.

6. Dubai debt collection court proceedings

6.1. Debt recovery by court proceedings is another method for alleging unpaid debts.

6.2. A creditor can file a civil lawsuit before the judge that can go ahead with regular proceedings.

7. Remedies for creditors issued by the court

• Attachment of debtor's movable properties;
• Attachment of stocks and bonds;
• Selling real estate.

8. Risks associated with debt recovery

8.1. The following factors must also be addressed when contemplating the debt recovery process:

• Effect of uncertainty and expense;
• Probability of not achieving a positive outcome;
• Contemplating the debtor's financial status.

9. Preventive measures

9.1. When offering a debt recovery program, follow-up measures should be considered:

• Ensuring a well-drafted plan with strong credit management.
• Addressing the terms and conditions of contract.
• Using dispute resolution provisions will also stop prolonged court proceedings.
• If the bill is late give notices and get daily confirmations from the trustee.
• Maintaining archives of attempts to recover outstanding debts is valuable for settlement hearings or legal cases.

We have an experienced, professional team in managing debt recovery cases.

Our goal is to offer you outcome-oriented debt collection services.

If you are searching for debt recovery programs please contact us for more advice.