Debt Collection is the process of recovering money owed, traditionally due to non-payment of debt or default on loans. The term potentially refers to collection activities by either the original issuer (a lender) or, in some cases, a third party for which the responsibility has been outsourced. Debt collectors act as agents to collect debts for creditors, including banks and credit card companies. They work with both consumers and commercial clients.
The UAE’s debt collection laws are based on sharia principles where debtors are given time to repay their debts before the creditor starts legal proceedings against them. In this article we will discuss about Dubai debt collection law and what a debtor can do if a creditor has filed a lawsuit against them without giving them time to repay their debts.
We conduct this procedure professionally and technically and use diverse strategies to demand payments on the creditor’s behalf. We act as a bridge between creditors and the debtor’s company. Apart from that, we follow pre and post-legal actions for instant debt collection Dubai.
Our main objective is to provide cost-effective procedures to save money. For this, we work on the “No Win No Fee” strategy. According to this, if you are unable to get your dues back or you have canceled the further proceedings of the case due to any reason then we will not charge you our service fee. We vouch for in-house private visits and establish customized payment plans depending upon your situation.
We have effective and fast Dubai debt recovery approaches as we do not want you to suffer more. Our strategies for collecting debts are highly effective and tend to provide desirable results. We want you to get cost-effective and time-saving procedures. Henceforth, we have trained associates in our agencies who are capable to manage various debt cases.
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Schedule AppointmentDebt collectors from our law firm act as middlemen. Debt Collectors operate as a legal attorney to resolve recovery issues through amicable and judicial settlements. Our professionals collect customers’ unpaid debts. However, the debts should not be older than the specified time. The creditor will be charged for legal services depending upon the amount the debt recovered as it is used for calculating the lawyers’ fees.
Debt collection is significant especially when the company or a business owner wants to recovery money and improve the cash flow. If the amount is too large, it would be hard for the company to pay off its necessary obligations. This can reduce the net profits and the stock levels of the company. Our customized debt collection strategies will help you to claim overdue payments.
Debt collection is a legit way to collecting the money owed on delinquent accounts. Our debt collectors are hired by companies, business owners, and individuals as well. These companies or individuals are the ones whose money is owed by the debtors. We take the responsibility to recover your amount under the legal umbrella.
Our debt collection services are unlike others; we don’t work on fixed amounts. Our lawyers work on a percentage-based for each case. Our payment rule is “NO WIN NO FEE”. It is because the person or firm already pursuing an amount can’t make a budget facing critical financial condition. After recovering the client’s overdue payments back, they are ought to give the agreed percentage of the amount to the legal entity.
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April, 2024
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August 26,2019
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