BLOG

كيف تستطيع تحصيل الديون في الإمارات؟

How is debt collected in UAE?


The steps for debt collection in the UAE are similar among law firms.  The legal debt collector helps individual and corporate clients to recover their overdue money in legal and problem-free ways.

Debt collection is one of the most important services for owners of various commercial, industrial and service businesses.  Accumulation of funds and late payment may expose companies and various practical organizations to the risk of bankruptcy.

Therefore, in this article, we will talk about the steps of debt collection in the UAE, and what we offer in Legal Group to our clients in this field.

Debt collected in UAE?

Debt collection is the process by which debt payments that accrue to individuals and businesses can be tracked.  Legal firms such as our Legal Group office act as an intermediary between the creditor and debtor to recover the financial rights owed to all parties.

Importance of debt collection services in UAE

The process of accumulating debt on companies and institutions, whether they are start-ups or large companies, can result in the development and exacerbation of the risk of bankruptcy. Because companies need permanent financial liquidity, to be able to complete and complete their various businesses.

When do you need to use debt collection services in UAE?

In order to guarantee your financial rights and obtain debts legally and without problems, the most prominent cases in which people resort to debt collection services are the following:

  • The customer/client does not respond to your calls or messages
  •  You are not aware of the laws applicable in this field and the rights and duties you are entitled to
  •  seeking help from exploitative people, and you will end up losing more money

Debt recovery steps in UAE

In Legal Group, we follow a variety of stages of debt collection.  It can be determined based on the situation we are dealing with, and the way in which debts must be collected and money should be recovered, which are the following:

  • Friendly ways and settlements

At this stage, the case of both the creditor and the debtor is studied, and the negotiation stage begins, under the supervision of the specialized legal offices, such as the Legal Group office.

 This step includes the consensual stage, or resolving the issue of debt collection by mutual consent between all parties.

 The amicable settlement is characterized by the fact that it may occur through oral or written contracts, and requires the consent of all parties from the creditors or debtors.

  • Judicial ways and settlements

Judicial settlements are resorted to if amicable settlements fail.  Depending on the nature of the case, they may be in the form of a legal obligation, court ruling, or legal contracts.

 Many people prefer this method, as it is a bankruptcy prevention system as well as a group system and the final solution to late payments.

Legal procedures for debt recovery in UAE

Legal offices such as our Legal Group office work to collect debts and recover funds by following specific procedures, suitable for the various cases we deal with, which are the following:

  1. Review the list of debtors to the company or to individuals.
  2.  Sending an account statement to clients and submitting monthly invoices.
  3.  Contacting customers and informing them of their overdue invoices.
  4.  Attempting to locate and contact customers, by calling their provided numbers.
  5.  Advise customers on payment options and suggest payment methods.
  6.  Maintain customer payment records.

How is debt collected in UAE?

We work in Legal Group to implement debt collection steps in the UAE, through a team of professional specialists, to facilitate your business in the UAE.

 Therefore, contact us at Legal Group to collect debts or to establish your company or factory in the UAE, within only 48 hours.  We do all collection services and represent your organization in a responsible and professional manner.

أسماء شركات تحصيل الديون في الإمارات

Names of debt collection companies in UAE

Debt collection companies in UAE seek to assist individual and corporate clients, to help them collect their debts and recover their owed money.

Business owners often encounter a variety of different clients.  And some of them avoid paying money for certain services or specific products.  This is what necessitated the emergence of specialized legal companies, providing debt collection services, such as the services we provide in Legal Group, legally and smoothly.

 Therefore, in this article, we will talk about the steps for debt collection, and the most prominent steps that we offer to our clients in this field.

What are debt collection companies in UAE?

Debt collection companies include a group of legal experts, who act as an intermediary to recover funds and collect overdue clients’ debts, often over sixty days.  And then return it to the original creditor by legal ways. 

How do debt collection companies work in UAE ?

Collection agencies tend to specialize in the types of debt they collect. So The agency can limit its work to debt collection within the statute of limitations, which varies according to the laws in each region.

As for the conditions to be within the statute of limitations, the debt is not too old, and the creditor can still legally pursue it.  So that the creditor pays a percentage, usually between 25% and 50% of the amount collected.

On the other hand, debt collection agencies collect various overdue debts, such as credit cards, medical loans, auto loans, and personal loans.  Along with business, student loans, utility bills, and unpaid cell phones.

For hard-to-collect debt, some collection agencies negotiate settlements with consumers for less than the amount owed.  They may resort to the judiciary and file lawsuits to collect debts.

Debt collection steps in UAE

In Legal Group, we follow a set of steps to collect debts, and recover the money owed to its owners, whether companies or individuals.  The steps for debt collection are as follows, and according to the case we are dealing with:

– friendly settlement

 Through this step, we follow diplomatic or soft methods in the matter of debt collection.  We remind the debtor of the due dates of payment, and the consequences thereof in the event of a delay or default 

– Difficult collection case

This step includes resorting to filing legal cases, to collect debts and recover the money owed based on the specific laws of the United Arab Emirates.  If the previous step fails to resolve the dispute and refund the money.

– Locating the defaulters

This is an important step in the process of debt collection and recovery of funds owed by companies or individuals.  As we work in Legal Group, through our specialized team, to locate and neutralize the defaulters, whether they are inside or outside the territory of the United Arab Emirates.

– litigation procedures

This step comes at the end of the debt collection steps.  Through it, litigation procedures are used to recover the owed funds and collect debts.

Names of debt collection companies in UAE

How do we work in the Legal Group to collect debts?

In the Legal Group office, we provide services dedicated to debt collection and money recovery in legal ways, through a specialized team of lawyers.  As we deal with two main types of cases, we will take a closer look at them below:

  • If you are a debtor: We offer our services to any debtor who is under pressure or threat from the creditor. As if you are going through difficult circumstances that prevent you from paying your debt. 

You can also use our team to negotiate with the creditor, and reach a joint solution that satisfies both parties.  Such as reducing expenses or money in general.

  • If you are a creditor: Debt collection services are there primarily, to help you get your money back. Whether it is the result of buying and selling or trading in general, or as a result of personal or public loans.

At Legal Group, we help you find the best ways to communicate with the debtor and get your money back in a smooth, comfortable and legal way.

Names of debt collection companies in UAE

We talked about debt collection companies in the UAE, and the services of Legal Group office in this field. Therefore, contact us at Legal Group to establish your company or factory in the UAE, within 48 hours only.  We do all collection services and represent your organization in a responsible and professional manner.

Load More

Legal Group © 2020
call