Debt Collection Service in Dubai | Debt Recovery Service UAE
(No Win No Fee) out of Court
Debt collection encompasses overdue invoices for companies, personal debt to individuals, bank debt and even amounts owed on bounced cheques. The amounts involved range from a few thousand dirhams right up to multi-million dollar issues.
We can tailor recovery action to fit your specific circumstances and can act for the creditor or the debtor in these issues. Understanding the avenues and procedures allows our team to deliver successful resolutions wherever possible and judgement and the force of the UAE legal system where all other avenues exhausted.
Debt Collection Lawyers in Dubai UAE
Why Law Firm Is Better Option For Collecting Debt
Debt collection service is the process of collecting payments of overdue debts owed by individuals and companies or businesses. As per UAE law, there is a statutory limitation which imposes 2 to 10 years’ time period for any individuals or companies to file any legal action or lawsuit against another for debt recovery. After this period lapse, the lender cannot file legal charges against you in a bid to recover the debt. However, it’s important to recognize that the debt will continue to exist, even if it’s rendered legally unrecoverable.
Law firms or lawyers act as debt collectors on behalf and as per the request of clients and companies. Lawyers are more able to collect any debt dues because of having extensive knowledge of the laws dealing with debt collection. Many people prefer to handle over any debt case to lawyers because they lack any knowledge on how best to proceed to collect any debt collection.
Lawyers know the cheapest and quickest ways to engage to collect any debt. There are several pathways which people often mistakenly resort to while trying to collect their debt such as arbitration or litigation. Prior to taking these routes, it is better to settle with the debtor subject to the condition that the latter makes payment. Lawyers will respond promptly by engaging in negotiation through adjudication or mediation which if failed shall ensue prompt legal action against the debtor. It is absolutely crucial to know the advantageous route to collect debt or alternatively the client may be required to incur signification cost.
For these stated reasons, it is crucial for any individuals or companies to quickly seek the assistance of lawyers who will protect their respective interest by building a solid case to collect any debt due. We have a history of acting without delay against debtors and collecting any amount due. As soon as any debt collection file is handed over to us, we shall firstly get in touch with the opponent, discuss any viable settlement, advise our client and pursue any step or action deemed necessary to finalize any debt collection case.