Debt collection is a crucial aspect of financial transactions, ensuring the smooth running of business and protecting the interests of creditors. In Dubai, understanding the debt collection process is essential for both local and international creditors seeking to recover outstanding debts.
This article provides a comprehensive overview of the debt collection service in Dubai and the procedures for the debt collection process, exploring the legal framework, and why should you choose a legal agency in the Middle East?
By highlighting the intricacies of debt collection in Dubai, this article aims to provide creditors with the necessary knowledge and insights to pursue effective debt recovery strategies through a Middle East Legal agency.
Why utilize our recovery and collections services?
Given that litigation is costly and time-consuming, going to court is usually the last choice on one’s mind.
Making the proper choice in favor of our collections and recovery services will assist reduce the associated expenses and speed up the process of recovering your money.
As the top debt collection firm in Abu Dhabi, Middle East Legal has a dedicated section with extensive practical knowledge and a proven track record of recovering bad debt through end-to-end procedures. We can give you the finest legal guidance in debt collection concerns for your company thanks to our outstanding staff of skilled debt recovery and collection attorneys in the UAE.
Services for Skip-Tracing
In certain circumstances, an agency at Middle East Legal struggles to communicate with debtors while we work on cases. Verifying all the information obtained is the first step that we do at the debt collection agency.
Next, we begin collecting any data about the debtor that is accessible in public records, such as internet databases, social media, job applications, utility bills, and so on.
The next stage is third-party investigations, such as contacting current or former classmates’ friends, family members, or co-worker.
At our debt collection company, all skip tracking activities are completed ethically and legally while keeping the personal information of our clients and debtors private.
Middle East Legal Agency for Claims Recovery in UAE?
- Our recovery expertise spans various industries and geographies.
- We have an eclectic team of experts with our collection lawyers, field collectors, and support staff.
- We have a global presence with our carefully selected network of legal partners in over 130 countries.
- This is a legal recovery firm and not a debt collection agency. Debt recovery done by a law firm is better and more result oriented.
- Transparent and timely activity reports along with systematic case updates.
- Multi-lingual, approachable staff and a personalized experience.
- Facilitating settlement by explaining legal consequences to the debtor and urging them to make payment in installments or PDC cheques or with an upfront discount as confirmed by the Client.
- Exceptional results, we have had many success stories where the recoveries we achieved substantially surpassed the expectations of our clients.
- Competitive and flexible fee structure.
- Honest advice if legal action is necessary.
We at Middle East Legal Agency follow a rigorous and comprehensive process to increase your chance of getting your money back in the following ways:
- Amicable Settlement: The first step is to attempt an amicable settlement with the debtor. The creditor or their representative should communicate with the debtor to negotiate payment terms and seek a resolution without involving legal proceedings. This can involve discussions, reminders, and negotiation to reach a mutually acceptable agreement.
- Legal Notice: If attempts at an amicable solution are failed, the creditor may give the debtor a legal notice. The amount of the outstanding debt, the due date for payment, and the penalties for late payment must all be specified in detail in the legal notice. To guarantee adequate legal documentation, the notification should be sent by registered mail or through a public notary.
- Opening a Case: The creditor may continue by opening a case with the Dubai courts if the debtor does not react to the legal notification or pay the debt. According to the size of the debt, the lawsuit is normally filed with the appropriate court. The debt must be supported by documentation from the creditor, as well as proof of the debt.
- Court Proceedings: Once the case is filed, the court will schedule a hearing where both parties present their arguments and evidence. The court will examine the evidence and make a judgment based on the merits of the case. If the court rules in favor of the creditor, a judgment will be issued.
- Execution of Judgment: After obtaining a favorable judgment, the creditor can proceed with the execution of the judgment to recover the debt. The court can assist in enforcing the judgment by seizing the debtor’s assets, freezing bank accounts, or garnishing wages. The court may appoint a court-appointed expert to evaluate the debtor’s assets for potential seizure and sale to satisfy the debt.
In addition to being a global debt collection agency, we also work as a corporate law practice in Abu Dhabi, providing specialized legal services. This reduces expenditures and renders unnecessary further debt collection efforts. Call us right now to restore your revenue if you want a reliable, cost-effective solution for collecting foreign debt in the UAE.