The debt collection agency follows substantial techniques in recovering outstanding debts. Debt collection Dubai lawyers are knowledgeable in carrying out both procedures. They provide a platform where lawyers will legally collect your debt from the debtors.
“No Win No Fee” Strategy
Most of the debt collection agencies operate through No Win No Fee strategy. This means that if you did not get your debt back then they will not charge you a fee. They are apprehensive about your debts.
Debt Recovery Techniques in Dubai
The first technique is judicial debt collection, in with debt is collected through the court. The second technique is non-Jurisdictive debtcollection, in which the case is resolved outside the court. Following is the detailed description of both techniques:
- Non-Jurisdictive Debt Collection
The finest way of debt collection Dubai is through the extrajudicial collection. It involves conciliation with the debtors which is carried out in the following ways:
- The debtor should be informed about the due payments
- A legal notice is sent to the debtor which claims overdue payments by the creditor.
- The debtor can ask for proof and once you receive proof start negotiations
- The debtor should provide a genuine reason to settle the debt
- You many offer installment techniques for the ease of debtor
However, if the non-Jurisdictive debtcollection did not work then we will go toward judicial debt collection procedures.
- Jurisdictive Debt Collection
Compelling the case to the court is the easiest way of collecting the debt. It is the shortened way of collecting debt that involves judicial bodies. Your lawyer will file a case against your debtor and the court will send legal notice to the debtor. Later on, decisions can be used in opposition to the debtor in the execution procedure. In the case of appealing disapproval, conciliation among the parties is ordered by the court of law.
You must hire a debt collection agency to avoid getting into bad debts. Debt collection Dubai lawyers have proper strategies for managing debt cases professionally. Therefore, avail their services and save your money and time. For further queries consult them.