Debt Recovery Tactics to Improve Collection in Dubai

Debt collection or Debt Recovery Dubai is the process of collecting the debt either from individuals or companies.  Nowadays it is very common that debts are not returned or sometimes not returned timely.  Financial crises or decline in the business and sometimes fraud problems lead to bad debts.  In Dubai, thousands of cases are reported where the debt was not returned.  It becomes very difficult to recover those debts.

Debt recovery has become a very serious issue not only in Dubai but throughout the world.  People try to betray others. Over time, different methods were devised to decrease the debts from the society but the success rate was not much in the early years.  Sometimes the property was mortgaged but even then the problem remained unsolved.

 Now people get the help of debt collection agencies to recover the debts.  These agencies pursue the debtors on behalf of their clients.  These agencies have different experts who are debt collectors.  They devise different methods to recover the debt depending on the debtor’s mindset.  The debt collection agencies collectors send a notice of payment to the debtors.  Then the telephonic call is made to inform them about the clearance of the debt.  Settlements are tried; negotiations are also given a try. Usually, the time period of 60 days is given to the debtor. 

During this time, the debt collection agency sends different reminders through letters, emails, faxes, and calls.  If the debtor fails to clear his payment within the given time, then a legal notice is prepared by the legal team of debt recovery agency and a case is filed against the debtor in civil court.  

The court decides the case after analyzing the situation.  Court orders to pay within 15 days along with the compensations.  A tedious task becomes easy for the creditors due to debt collection agencies.

Recovery Agencies or a Law Firm

Previously, there were only separate, collection agencies. But now the Law Firms having separate and dedicated collection departments, where debt collection dubai services are offered by expert debt collectors and lawyers. If you could find a Law Firm with separate department and the team for recovery, then its a great support.

What a Recovery Agency can recover?
Recovery Agency helps you to recover any kind of unpaid amount as follows; 

• Unpaid Invoices
• Unpaid Purchase Orders 
• Unpaid Contracts 
• Unpaid Salaries 
• Unpaid Cheques 
• many more