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Personal Insolvency

What is Personal Insolvency Law in UAE?

Whether you’re struggling in settling debts or you’re owed money, the lawyers and legal consultants of HHS lawyers can help you in reaching an amenable resolution. Personal insolvency is when individuals aren’t able to repay debts. It’s a complicated process, involving various areas of law including tax, employment, family, property, and more.

Debt restructuring is done out-of-court and is a negotiating process involving creditors through which debtors reach agreements with creditors in realigning debts in ways that allow borrowers in satisfying their financial obligations. HHS Lawyers has advocates that specialize in personal insolvency and they understand that transactions such as these are urgent and time-sensitive. Our team promptly responds to the issues and concerns of clients as we strive in providing effective and proactive solutions even with a fast-paced setting.

The attorneys at HHS Lawyers have handled personal insolvency cases for both lenders and borrowers, which provide them valuable insights into the drivers and concerns for both parties.

For Borrowers

When representing borrowers, our main objective is negotiating with creditors in restructuring the terms of debts to meet the realities of borrowers’ financial situations. Uncovering the “reality” is often too difficult for all parties involved, most especially with the economic climate of today. This is why HHS Lawyers strives in thinking outside the box with the process and finding solutions that are palatable for both the borrower and the lender.

If work outs are possible, considering the options that our personal insolvency lawyers provide may lead to a quicker debt settlement and even reduction on the expense and time associated with the process.

For Lenders

When representing lenders, our main objective is maximizing recovery and providing advisory on the best course of action that can result to the highest recovery. HHS Lawyers assesses and reviews the impact of personal insolvency and considers the past dealings of borrowers in achieving the best outcome possible for a lender, looking at both long-term and short-term consequences.  A lender that is willing to put new money in or wait a longer term for repayment deserve and ask for certain concessions for allowing a work out for the lenders.

From cash flow/debt problems to collections, the attorneys at HHS Lawyers can find solutions. We’re most effective whenever clients reach out early in the insolvency process. As insolvency specialists who are working in a trusted law firm in UAE, we have the depth and breadth of experience in helping you manage varied insolvency issues. We’re able to advise on the following:

  • Negotiating debt repayment agreements with debtors or creditors
  • Avoiding insolvency if you are in financial difficulty
  • Going through the process of formal or informal debt restructuring, insolvency or administration
  • Recovering money that is owed by insolvent individuals
  • Dealing with investigations of local authorities
  • Resolving disputes
  • Clearly understanding asset and liability profiles of debtors
  • Guiding with the steps of the resolution process
  • Creating a debt management plan

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Lawyers for Personal Insolvency in UAE

Lawyers for Personal Insolvency in UAE

Should you choose our firm to help you with matters related to personal insolvency, you can rest assured knowing that you will receive guidance throughout the entire process. As soon as we determine the debt relief solution that is right for your specific situation, our lawyers and legal consultants will begin preparing the required documents on your behalf. Law firms often pass cases to paralegals, but you will work with our attorneys directly at HHS Lawyers.

Every single case is important for us, so we make sure they are handled with utmost compassion and care. Our mission is delivering exceptional services to our clients regardless of the situation. We understand the decision in hiring attorneys specializing in personal insolvency come right after a time that’s filled with anguish and stress. Always reliable and caring, our lawyers will lend a helping hand in order for you to start working towards a more stable and healthier financial future.

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