Debt Recovery Process in dubai is not only Dubai based, as it is can be connected with another Emirate or some times the Country. Dubai is attached with International Markets, so most of the time Debt Recovery Process is for a company operating in overseas, having outstandings in UAE. So, first of all, we should not limit, the process just up to Dubai, Debt Collection Dubai does not reflect that it is just for Dubai Emirate Only or between two parties belong and operating in Dubai only.
Communication & Process
Generally, the creditor starts the process to talk to the debtor about the unpaid amount or dues, but if the person who has to pay money is not responding then it is the time that creditor needs his money back, then without any further delay, the creditor might consider other opportunities for debt recovery. The debt collectors mostly don’t charge anything until and unless they recover the money of creditor. If they don’t recovery they don’t get anything. So it might be a better option for a creditor because they will not lose their money anymore. There are assured situations in which the creditor works with, the debt collectors will contact the debtors through telephonic conversation and organize a meeting for debt recovery.
Reasons for Debt issues are the nature of Defaulters. Sometimes they are really in a bad position that they can’ not pay which can be tolerated but it does not mean that they do not have to make the payment. In an Economical Chain, when a big company or companies get defaulter, then it also effects on other companies and the market. One of the reasons for Debt issues in the market as well. Read Emirati Labour Lawyers