How to Solve Debt Collection Disputes in Dubai?
The debts make both debtors and creditors face financial issues if there is any delay from either side. Dealing with these issues is not for a person who is new to business or facing debts for the first time. Therefore, people opt to get legal services to deal with such matters.
In case creditors and debtors do not agree on mutual terms, then there is a probability of dispute which leads to damages to both parties. The global ranking of debt collection in 2018 listed UAE on the top depicting that debt collection Dubai in all the emirates of UAE is a difficult process.
Alternate Dispute Resolution
It is an out-of-court process for collecting unpaid invoices. Our associate lawyers consider the available opportunities including meditation and arbitration. Moreover, the negotiation before knocking on the doors of the court.
They persuade the debtors to pay off the outstanding debts by calling them or sending written demand notices. Our associate debt collection experts arrange a meeting between both parties. The meeting attendants are informed beforehand to bring supporting documents with them.
If debtors are facing financial instability those creditors are advised to agree upon easy reimbursement plans which would aid both parties.
Court Procedures
If the dispute is unsettled in extrajudicial attempts for recovering the debt. Then creditors can avail the option of going to court to secure their outstanding payments. Our associate lawyers file a lawsuit against the debtor on the creditor’s behalf.
The civil or commercial case is initiated in the court which is preceded by litigation in court and jurisdictive boards.
The Ministry of Justice
The Ministry of Justice appoints Reconciliation and Settlement Committee to hear claims. And it facilitates settlement for debt collection in the UAE. The matter is forwarded to the court if not resolved by the reconciliation team.
The suitable judgment is provided after hearing the concerns of both parties along with proofs. Debt collection agencies in Dubai are there for your support. They are available in Ajman, Sharjah, Fujairah, and Abu Dhabi to assist you in legal matters.
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