Debt Collection is a process to recover debts from the market. It might sound strange or interesting that why it is difficult to recover the debt from the market. First of all, it is also human nature that people do not want to pay. They like to be paid or received only. The second thing is the market situation. The third thing is the nature of dragging the matter to buy time as much as anybody could do it. The second reason can be tolerated. The first and the third one cannot be tolerated. Such situations are referred to as a Debt Collector, Debt Collection Agency or Law Firms. There are many Debt Collection Agencies offering Debt Recovery Dubai services. There are also many Law Firms in Dubai offering recovery services. The process is simple and really beneficial.
The person or the company who has to collect the debt usually called creditors hire a Law Firm or Recovery Agency. Law Firm or Collection Agency provided with supporting documents like Statement of Accounts, Agreements, Unpaid Purchase Orders, and Unpaid Invoices etc. Contact details of the defaulter, are provided to a collection agency or the Law Firm. Power of Attorney is also provided to the service provider. Though it is a process outside the court, outside the legal jurisdiction, still power of attorney is required because it authorizes the service provider to act on the behalf of the client. After providing the supporting documents and, and after paying the processing fee, here it starts the role of a Recovery Agency or a Law Firm. Law Firms or collection service providers have all resources, equipment, staff and market knowledge, that they can easily chase and approach anyone. Especially the companies, where it is difficult to reach the top hierarchy. These market experts hit the target which means approach the right person who is a decision-maker and collect the pending amount as soon as possible.
These Lawyers in UAE if they are not from a specific recovery agency, then called Lawyers cum Recovery agents. Mostly the people are only debt collectors, otherwise. Though they can be from Law Firms in Dubai, Law Firms in Abu Dhabi, Sharjah etc. How to chase, how to communicate and how to do, this is a separate subject which we will discuss in another article. But these service providers are the best solutions to resolve the matter in the shortest time. If the matter could not be resolved then we can take it to the next level which is a court level. We can file a Civil Case or Labour Case or Criminal Case etc. If you are thinking that why a different type of Case, then the answer is if it is an unpaid cheque then it can be taken to the Police Department and a Civil Court. If it is an unpaid salary then it can be taken to Labour Court, and if it is unpaid then it will become a Labour Case. Debt Recovery Services is very, good indeed for business.