A debt is a financial obligation on a person or an organization against a received service, product or loan or any other liability that has a real value to money. Missing a payment, a bounced check, non-payment of loan, medical, or other service bills are the matters that may trigger defaulter status for a debtor. This is when a lender can hire us to assist them to get back their debts. We, at Al Zarooni Advocates and Legal Consultants, provide legal assistance to those who are in need of collecting outstanding and overdue debts. As one of the leading debt recovery and collection law firms in Dubai, we are very committed to resolving as well as settling all debt collection and debt recovery problems with the lender and the borrower.
Know about debt collection process in UAE
The laws related to debt collection in Dubai, UAE are not very sophisticated. It may be quite challenging for the lenders to handle bad debt recovery process. It is because in UAE there are no specialized courts for dealing with financial litigation and a debt collection lawyer needs to represent the specific case in civil courts. Well, the absence of specialized financial litigation courts leaves it to the Federal Supreme Court or the Court of Cessation to decide all the claims of lenders against the debtor. The institutions as well as their sub institutions run under the civil laws. Besides local laws, payment practices, as well as insolvency proceedings, are the factors that make debt collection in Dubai, UAE difficult at times.
Diverse ways of collecting debt in UAE
Not in UAE but everywhere else, a lender will always look out for a way or even follow an out of the court process to recover the debt. This is most of the time quicker and also more responsive in terms of debt collection and also costs less as compared to the costs incurred in a legal procedure for the same. We as one of the best law firms in Dubai may assist the lender to collect debt in an amicable way. We collect all the available information related to the debtor. Then in a highly professional way, we reach out to the debtor on behalf of the lender to remind him of the unsettled debts. We try to inform the debtor about the possible legal consequences if the debts are not paid at the scheduled time.
Ensure to keep it legal as well as fair always
Although a debtor is defaulted to clear the debts, a lender generally prefers to act professionally in handling the process of debt collection. We too act in a professional way while tracking down the debtor and while approaching them for debt collection. Undoubtedly, collecting debts is not an easy task but we have both the experience and the expertise to recover bad debts on behalf of the lenders in a professional way.
Choosing the best debt recovery service from us
As one of the best debt collection law firms in Dubai, we, at Al Zarooni Advocates and Legal Consultants are well-aware that while there are multiple companies who pay debts, there are few that also take a long time to recover as well as pay the overdue completely. This is because collecting debts from the borrowers seems to be both time-consuming as well as strenuous for the individual doing it, due to the constant need to follow up through multiple communication lines that even increase if the total amount of money involved goes higher.
No matter what kind of debt one has to collect, Al Zarooni Advocates and Legal Consultants has the best debt collection services in Dubai to take care of debt collection. Our professional and qualified team understands how effectively to handle such cases and with utmost responsibility. As a leading legal firm in Dubai, in all the things we do, it is our primary goal to strengthen what makes us successful and at the same time to discourage the things that impede our progress and to make a clear statement about our Identity. We believe that these moral standards can only make a difference if they are shared, believed in as well as practiced. We maintain these values in all things we do – these become our guides in how we do our work, in our decision-making process and in the way we communicate with people. Contact us for the best legal assistance in Dubai. We’ll be happy to help you.