In the dynamic landscape of business, debt recovery stands as a critical process for maintaining financial stability and sustaining growth. For companies in the UAE facing the challenge of unpaid invoices and lingering receivables, navigating the intricacies of debt recovery requires a strategic and comprehensive approach. This guide delves into the strategies and practices employed by MBG Corporate Services, a leading company in debt recovery solutions in the UAE.

Understanding the Debt

The journey of debt recovery begins with a deep understanding and analysis of the debt. MBG conducts a thorough assessment of the outstanding debt, debtor profiles, and previous collection attempts. This initial step sets the stage for a tailored and effective recovery strategy.

Pre-judicial Process

This phase is characterized by meticulous research and investigation. Our team conducts extensive investigations to locate non-responsive debtors, verifying contact details and assessing legal standing.

We draft and serve demand letters and legal notices, meticulously prepared by our legal experts. These communications serve as formal notifications to debtors, outlining the debt specifics, payment terms, and potential legal repercussions if deadlines are not met.

Further, should the Debtor be willing and cooperative in settling the amount, we represent the client ot conduct negotiations that play a pivotal role in this phase. Our representatives and lawyers engage in continuous communication with debtors, evaluating their willingness to pay and exploring settlement options, depending on the Debtors payment capacity. This process involves careful negotiation and documentation of settlement terms, ensuring legal enforceability and client protection.

Judicial Process: Legal Compliance and Enforcement

Should the Debtor be non-responsive or non-cooperative in the pre-judicial phase, MBG shall navigate the judicial process with precision and legal expertise. Upon initiaing an action for registering the case, the courts shall serve the Debtor with a written legal notice or summons via Notary Public. These legal notifications are served as per UAE legal provisions, initiating court proceedings for debt recovery.

MBG’s lawyers shall also represent the client for appearing at the hearing sessions, submitting the memorandums and defence statements. At the satisfaction of the court, the judgments are obtained, laying the groundwork for enforcement actions.

Execution proceedings encompass a range of legal measures, including asset investigations, precautionary attachments, and enforcement actions such as travel bans or bank account seizures. Our team ensures strict compliance with legal and regulatory requirements throughout this phase, safeguarding our clients' interests and securing debt repayment.

How MBG can help?

Debt recovery is a multifaceted endeavor that demands strategic planning and legal acumen. MBG Corporate Services' comprehensive approach to debt recovery encompasses diligence, negotiation, legal compliance, and client support, ensuring successful outcomes and financial stability for our valued clients.