DEBT COLLECTION IN DUBAI, UAE
The debt collection process could be very challenging for lenders in UAE. It is because in the UAE there are no specialized courts for financial litigation and the debt collection lawyer has to represent the case in the civil courts. The UAE law is developing itself towards excellence in implementing commercial laws but getting into legal procedures is not much favored for debt collection. This is not just in UAE but everywhere else that the lender will look for a way or follow an out of court procedure to recover their debt. This is most of the time swift, quicker, more responsive in terms of debt collection and costs less compared to the costs incurred in a legal process for the same.
PBS Debt Collection services can help the lender to collect their debt out of the court. We will then in a very professional way reach out to the debtor on behalf of the lender to remind them of their unsettled debts. Such communication is made only through the telephone and emails. If these do not work then we will inform the debtor about the possible legal consequences if debts are not paid in time. An experienced debt collection agency, like PBS, will first analyze the reasons why the debts turned into bad debts. What were the factors that made the debtor not being able to pay their debts, was the debtor able to pay any payments in the past, and what has been their payment history? They will also look for the current circumstances of a debtor to figure out what are the possibilities to collect the debt.
We act as a facilitator not only for the client but for the debtor as well. Every debtor is not the same, there will be many people who understand their liabilities towards the lender and striving hard to pay back their debts. It is the circumstances that sometimes are not favorable for them and with a little support they can start paying back. We also act as an arbitrator and mediator between the lender and the debtor to recover the debts. If the debtor seems careless to respond to the debt collection efforts made by our collection agents or makes commitments and breaches them again to buy more time then we take alternate debt collection techniques. We send them a registered legal demand notice on behalf of the lender to pay back the debts. If the debtor fails to respond even after this, then a case is filed in court and legal ways are enforced.
For any queries on Debt Recovery service in UAE, please get in touch with us at firstname.lastname@example.org