Managing debt recovery disputes in Dubai
June 14th, 2020 by admin
Debt recovery is the legal procedure aimed to collect pending payments from the debtor. Several strategies are developed for the debt recovery Dubai process to provide efficient and timely recovery. These procedures are well regulated in Sharjah, Abu Dhabi, Zeyd City, and other states of Dubai.
We provide associate debt recovery services to our clients, which are well-informed and experienced in recovering your debts. The lawyers associated with these agencies have detailed information about UAE laws and policies.
Our “No win no fee” Policy
If your debt is not recovered by availing our services than we have a “No win no fee” program for you. This usually happens rarely but being on a safer side, we attempt to offer you this benefit to ease you in a difficult time.
Debt Recovery without getting Professional Assistance
Recovering debt on your own rather than appointing associate lawyers may cause few challenges such as:
- Negative impacts on deferrals and cost
- You may not accomplish the desired results
- Not providing subsidy towards the financial status of the debtor.
- Irresponsive communication
- Unaware of UAE rules and regulation
Therefore, debt recovery Dubai disputes should be handled by hiring a debt collection agency that can manage your case professionally and encounter potential issues without difficulty.
Effective Methodologies for Recovering Debts
The below-mentioned significant procedures are followed for settling disputes of debt recovery in UAE.
- Amicable resolution:
It is carried out in subsequent ways:
- Negotiations: Before heading towards ligation communication with the debtor, negotiations are considered to be the best attempt. Both parties should negotiate to reach a mutually agreed decision.
- Arbitration: The decision is made by an arbitrator to solve dispute and both parties are bound to act upon the decision.
- Judicial resolution:
If amicable settlement does not work, then the case is shifted towards the court. The decision of the judicial body is considered the final one and both creditors and debtors have to act upon it.
Precautionary Measures for Debt recovery
The creditor should have a draft for agreement before the process begins. Payment terms and conditions should be listed properly in the contract. Moreover, clauses for resolving disputes should also be addressed. Finally, you should keep the records of attempts that were made for debt recovery Dubai. This will help you in court procedures.
Our associate debt recovery firm will connect you with a professional team to handle simple and complex debt recovery cases. We offer result-oriented services to our dear clients. So, hand over your debt issues to our associate lawyers and get relief.
If you are looking for further details related to debt collection, contact our law firm. We are happy to address your concerns and will provide tailor-made services to each client.
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