While our collection agency takes claim of all sizes (average claim size must be aed 20,000 or more), we are recognized expert on large claims. When you are owed aed 100,00, aed 500,000 or over aed 1 million, it typically is not a basic collection matter. And the amount owed to you is much more important to you than a smaller claim.
Background Investigation:This means developing an understanding of the debtor – the business itself, the ownership, and its employees. We seek to determine how large they are, how long they have been in business, and how the business is performing. We will also investigate the background of owners, managers and employees as appropriate. The debt collector uses this information to develop a strategy and in negotiations with the debtor.
Sometimes companies just seem to disappear. We do extensive research to either confirm they are no longer operating or to find them at a new location, operating under different names or with different contact information. We also track down owners, either because they have personal liability for the business debt or to confirm the business is closed. Our research techniques may include finding and contacting relatives, neighbour’s and landlords as well as simply finding working phone numbers and home addresses for the person of interest.
Credit Analysis:Most of the debt collection claims result from the debtor having financial problems. We seek to understand the owner’s personal financial situation as well as the company’s financial position to help us with developing a negotiating strategy and a successful result.
On occasion, there are disputes where the other party has some damage claim against our client. The end result may be that our client agrees to accept less than the full balance owed as part of settling the dispute. In other situations, a debtor may be delinquent with a significant number of vendors and only have a limited amount of funds available to satisfy old debts. While a long-term payment plan may get a full recovery, there is risk that the debtor goes out of business before satisfying the obligation in full. In this situation, it may be preferable to negotiate a settlement agreement where the debtor gets a discount but pays the full discounted amount immediately. Clients must approve in writing any settlement agreement.
Where an amicable solution cannot be found, we’ll follow through with legal negotiation, acting on your side every step of the way, in cases where legal negotiation is unsuccessful, the wakeel al duyun team will facilitate you towards recovering your money through litigation (legal proceedings).
Field Visit:It’s a field visit where an agent will meet with the debtor at his premises and gather maximum information on the business including location, size, number of employees, assets, liabilities and more contact details.
