Debt recovery services in Dubai or all over the world make their efforts for out-of-court settlement for due debts. Although, in some instances, this is not the case. Legal action is pertinent for the recovery of bad debts.
Recovery of bad Debts is known as Debt Collection or Debt Recovery, which is to be performed by the top experts know as Debt Collectors or the Lawyers as well because nowadays the Full Service Law Firms do have the dedicated team and section inside the offices. Therefore, Unpaid Debts are taken to the local courts as well by these Law Firms, if they are not paid or could not recover the unpaid debts.
For that to initiate, a legal petition is filed with them. The motive behind this is to chase the unpaid money. Therefore, a proper petition is filed systematically if the debtor does not honor the mediation. This is the core benefit to hire a Full Service Law Form for the debt collection process. However if the process is started from Collection then Law Firm or even the Debt Recovery Agency, do their best to recover the outstanding funds outside the court.
But when it is mandatory to step inside the Court then? Then, these full service Law Firms, step inside the Local Courts in Dubai. A proper Case is filled there in Civil Case, or sometimes the Criminal Case can also be opened if there has been a fraud or forgery while paying or making the deal. Debt Collection moves to legal services or litigation.
But the Debt Collection Procedure:
The demand letter or the legal notice is served by the Law Firms, at the beginning. Now officially, this is all outside the court activity. It should not be mixed and understood with legal services or court services.
In case the debtors or the borrower fails to repay the amount within the prescribed time limit of 15 Days, or 30 Days or whatever the time, is prescribed of sending the demand letter, the trial can commence. It is commenced when a last warning is sent or the last message is sent before stepping in to Courts. A court trial gets into progress against the debtor’s inability to pay off the unpaid amounts. Henceforth, the courts get involved in this matter.
The courts will help the creditors in debt recovery. The local courts will take up a look, way to proceed with the matter legally. It means courts will check documents submitted with claim and register the Case. This is something we have already mentioned above.
Therefore, what needs to be done, to perform well in the Recovery Process. A solid warning through demand notices, follow ups, visits, phone calls, using PR and then finally the Court Case, will definitely help the creditor to recover the money outside the Court. If it could not be possible then, last option is Court Case.
A good Law Company like Ask The Law – Al Shaiba Advocates and Legal Consultants, will help you to recover the debt through mediation/debt recovery or through the Court. Sign the engagement letter and provide the Power of Attorney and let your attorney to perform well in your favour.