Debit Recovery for Corporations & Individuals
Top Tier Debit Recovery Law Firm
Nour Attorneys is a specialised law firm that provides Debit Recovery services to corporations and individuals to recover their money and assets from creditors in Dubai, UAE, GCC and same Middle East countries. We follow a process of recovering the debit that worked successfully for our clients for the last 15 years with the expertise of our team in recovering dues from the debtors.
Submit Your Inquiry Now
Our Practice Area
Pre-Dispute Management
We target to manage the disputes before it goes to the court aiming to get a settlement agreement with the counter parties as UAE law does not cover actual lawyer fees.
Execution of Foreign Judgments
We provide meticulous service in executing the judgments awarded in other countries against the debtor or respondent resident in UAE to execute jdugemtns.
Corporate Litigation & Arbitration
We litigate in courts and arbitration to secure clients' rights with specialized team on these areas to secure judgment in favor of the client.
Orders on Petitions
We issue travel ban orders against debtors before taking legal action to prevent them leaving country and also seizing there assets till final judgment is awarded.
Courts Litigation Services
We file cases against debtors to collect due amount through civil, commercial, execution cases and we litigate all levels of dispute in the court.
Bankruptcy Disputes
We file bankruptcy cases against persons or companies to put them under the court supervision and have travel ban against them while they continue paying the outstanding dues.
0 +
Legal Consultation
0
Contract Drafted
0
Commercial Transactions
0 %
Case Win Rate
OUR STRATEGY
We have 15 years of experience as debit collection and recovery; our general strategy is as follows:
1. Initial Communication (Reminder)
- Reminder Letters: Sending polite reminders or invoices that show the outstanding balance, due date, and instructions for payment. The goal is to prompt the debtor to settle the debt without escalating the situation.
- Phone Calls: Following up with calls to ensure the debtor is aware of the outstanding balance and discuss any issues they might be facing in making the payment.
2. Negotiation
- Payment Plans: If the debtor is unable to pay the full amount, you may negotiate a payment plan or settlement agreement, potentially offering reduced amounts or extended deadlines.
- Debt Restructuring: In some cases, especially with larger debts, it may be possible to restructure the terms of the debt to make it more manageable for the debtor.
3. Formal Demand Letter
- If informal communication does not result in payment, a formal demand letter or "letter of demand" is sent. This letter usually indicates the seriousness of the situation and informs the debtor that legal action will be taken if the debt is not settled.
5. Legal Action
- Filing a Lawsuit: If all else fails, the creditor may pursue legal action by filing a lawsuit in civil court. If the court rules in favour of the creditor, the debtor may be required to pay the debt, plus interest, penalties, and legal fees.
- Court Judgment: After a lawsuit, the creditor may receive a court judgment, which allows them to enforce the debt through garnishments, liens, or asset seizures.
7. Enforcement of Judgment
- After obtaining a judgment, creditors can use various legal methods to recover the debt, including garnishment of wages, placing liens on the debtor’s property, or seizing assets.
4. Debt Collection Agency
- If the debt remains unpaid after the formal demand, businesses may turn to a debt collection agency. These agencies specialize in recovering outstanding debts and may have more success in getting payment from difficult debtors.
- Collection agencies typically charge a fee or take a percentage of the recovered amount.
6. Bankruptcy Considerations
- If the debtor files for bankruptcy, they may be able to discharge certain debts, but some debts (e.g., alimony, student loans, tax debts) may remain. Bankruptcy proceedings can complicate debt recovery, so creditors may need to navigate this process carefully.
Key Factors in Debt Recovery
- Debt Amount: Larger debts may require more aggressive action, while smaller debts may be more easily written off or handled through payment plans.
- Debtor’s Financial Situation: Understanding the debtor’s ability to pay is crucial. Some may be in financial distress and unable to pay in full.
- Industry Regulations: Debt recovery practices are regulated by laws.
Common Challenges
- Disputed Debts: Sometimes debtors may dispute the debt or its amount, which can delay recovery.
- Non-Response or Evasion: Some debtors may attempt to evade collection efforts, making it difficult to recover the money owed.
- Lack of Assets: Even if legal action is taken, some debtors may have few or no assets, which makes it difficult to collect a judgment.
Debt recovery can be a long and complex process, and it’s essential to approach it systematically and within the confines of the law. For businesses or individuals considering debt recovery, working with a professional—like a collection agency or attorney—can often be a good strategy to increase the likelihood of success.
Contact us
Looking for a First-Class Lawyers & Legal Consultancy Firms in Dubai?
Talk to our Legal Experts
Mohamed Noureldin
Founder, Lawyer & Sr. Legal Consultant
Amer Kiwan
Sr. Legal Consultant
Arslan Butt
Legal Consultant
Yuvraj Singh
Legal Consultant
Contact Information
MAIN OFFICE
Office 402, Crystal Tower, Business Bay, Dubai, UAE
BLB-BC5-37, AMC - BOULEVARD-Building, Al Itihad St, Ajman
info@nourattorneys.com
PHONE
+971 58 555 2999
WORKING HOURS
Mon-Fri: 9am – 6pm
Contact Form
Kindly write your inquiry below and we will get back to you shortly.
