Debt collection process in Ajman. General overview
Debt collection is a known process for many companies worldwide. In short, bill collection is a process of obtaining late payments from companies and individuals for goods and services provided. In Ajman as well as in the UAE late payments can be managed in 2 ways: managing the process individually of the company, or by enlisting the services of licensed debt collectors.
After years of experience working in the field of debt collection and recovery, our lawyers in CIS DRS have concluded that more companies prefer to get help from debt collection agencies. On the other hand, the legal system of the UAE provides creditors with the possibility to collect late payments in courts by filing a petition. Nevertheless, many people believe that enlisting the services of debt collection companies returns more income to the companies rather than judicial proceedings.
How does debt collection work in Ajman?
There is a tendency to think that debt collection and recovery are quite complicated. In a way, this opinion is correct. Legal debt collection does require special skills. Our collectors in CIS DRS have years of experience in this field and are highly qualified to provide excellent client services to their clients. Our teams are always eager to help clients to find a solution on how to not just collect but also to maintain good business relationships with debtors. In the beginning, we analyze the financial situation of the debtors. After we get the whole picture, we contact the debtors by sending the letter of the 1st demand following up with the phone call. When we start negotiations it is important for us to convince them to settle. Sometimes, we offer several solutions on how they can pay back. In order to do that various techniques are used. In case the debtor ignores our attempts of amicable settlement we advise our clients to consider legal action.
What can businesses obtain out of debt collection?
There always has been a debate on whether a debt recovery agency is a right choice for companies. While some people consider this option as an inefficient one, the majority still think that there are more advantages, and here is why.
1
Debt collection services require less time and effort from creditor companies. This option gives clients time to focus on the performance of their daily tasks, while their late payments are taken care of.
2
With the help of payment collection services, it is possible to have better business relations with the debtors afterward.
3
The process itself costs less than legal proceedings.
We collect - you gain
Our experts in CIS DRS know the process of debt recovery inside and out. We have more than 10 years of experience in the Ajman region, which gives us more chances of successful debt recovery than any other firm. We care about our clients, and that is why we are ready to be of service 24/7 collecting the payment for you! For more information, please, do not hesitate to contact us!
AT A GLANCE
Serving Clients in AJMAN for more than two decades
analysis of trade documents in default
credit check of the debtor's company
strategy for peaceful settlement
drafting official demand letters
phone negotiations with debtor
personal negotiations with debtor
drafting restructuring plan
control of installment payment
portfolio analysis
control of payment terms
timely reminders
soft communication with clients
advisory regarding billing cycles
reminders via emails
receivables control
legal review of trade documents
translation of the documents
drafting a Power of Attorney
making a strategy of litigation
drafting and filing law-suit
application for assets seizure
participation in court hearings
obtaining judgment for client
legal review of arbitration clause
translation of necessary documents
drafting a Power of Attorney
making a strategy for arbitration
drafting and filing law-suit with IAC
application for assets seizure
participation in arbitration hearings
obtaining arbitral award for client
analysis of judgment or arbitral award
making a strategy of enforcement
drafting application for enforcement to local court
participation in court's hearings
obtaining writ of enforcement
filing the writ to Bailiff's Service
control of execution work
filing creditors claims
representing clients in creditors committee meetings
bankruptcy process monitoring
liquidators communication
regular reporting to client
assets recovery
DEBT COLLECTION SERVICES IN AJMAN
No Recovery-No Fee.
3.1
3
Our lawyers do their best to collect your credits
COLLECTION EFFORTS
2
Verifying Debtor's Address
Checking Debtors' Status in Database
Brief Report to Client
Case Strategy Design
CLAIM PROCESSING
1
Confirmation Receipt
Claims Automation System
Case Processing Starts Immediately
NEW CLAIM
Get Proposal
Forward for Client's Approval
Collect Payment to Client
CLOSE the File
Whether Debtor Responds Positively (if yes)
3.2
Send In-house Demand Notice
Whether Disputes (if yes)
Get Proposal from Debtor
Forward for Client's Approval
Collect Payment to Client (if approved)
Suggest Court Case If Worth (if no)
CLOSE
Whether Responds Negatively (if no)
3.3
Convince for Amicable Settlement
Get Proposal
Forward for Client's Approval
Collect Payment to Client (if approved)
CLOSE
Whether Disputes (if no)
4
You always receive reports regarding our efforts in time
Current Status of Each Case
Collection Efforts Our Lawyers Have Already Done
What Should Be Done Further
Expected Outcome Or Suggestion
REPORTING
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