Collection Department
Collection Department
- Collection Department
We recover Business to business deals locally and domestically and deliver the following types of debt recovery services:
- Disputed Amounts Collection
- Normal Account Collection
- Skip Tracing/Repossession
- Legal Special Handling
- To file Criminal Case
- To file Civil Case
- Unpaid Salaries
- Trade Debts
- Credit Card Debt
- Banks Collection
- Soft Collection
- Hardcore Collection
- Write-off Collection
- Auto Loan Collection
- Field Collection
- Tele-Collection
- Skip Tracing/Repossession
- Legal Special Handling
- All types of Repossession (Vehicles & Assets)
- Stuck/Default Accounts Collection
- Cheque Bounce/Unpaid Invoices Collection
- Mortgage Payment Collections
- Real Estate/Installment Collection
- Real Estate Dispute settlement
- Personal Loans
Banks normally provide personal loans against securities, but when a customer falls to pay back the loan; it becomes a difficult type of debt to collect – especially when the cost of collecting the debt is higher than the debt itself. Banks also choose not to put good money after bad, or incur additional costs to collect debts, choosing instead to outsource the process to a third party. If a bank has exhausted all of its procedures and remain unable to recover a loan, our experienced teams take over.
- The process of recovering a personal loan Involves different procedures such as:
- PICRS Debt Consultants will review the case and devise a roadmap.
- PICRS Tracing Team traces and locates the debtor, who could be either in the country or abroad.
- PICRS team of negotiators establishes contact with the debtor and negotiates to settle their debts amicably by focusing on; creative problem solving & without compromising the full benefits due to the bank
- In the case of a debtor who has left the country, we coordinate with their relatives to collect and liaise with them until the amount is settled
- Legal action is recourse, if necessary
- Auto Loans
When it comes to Auto loans, banks are often stuck with delinquencies and charge-offs despite being cautious when reviewing requests, conducting reference checks, studying employment histories, and analyzing credit scores. To make it worse, vehicles are movable assets, and auto loan customers who fail to pay their dues often leave the city, move to other cities, or even attempt to sell their cars.
The PICRS team is trained to trace and locate missing cars and hand them back to the bank. This service is available throughout the UAE. In special cases, our teams not only recover the overdue but also repossess the vehicle from the customer.
We are experienced in coordinating the sale of the car at auctions or through other arrangements, and returning their current value to the bank while tracing the missing customer and collecting the rest of the outstanding loan.
Our success rate in recovering personal loans on behalf of banks can be attributed to our expertise in negotiation and persuasion, and our specialized communication techniques that go beyond letters and phone calls. In addition to Personal Loans, our collectors are specialized in handling all other banking debts such as overdrafts, home loans, easy loans, and more. When it comes to loan recovery, members of our teams wear many hats-they are problem solvers, troubleshooters, negotiators, communicators; investigators, and strategists.
- Write Off Collection
This is conducted by a state-of-the-art call center where the movement of cases and dropping resolutions are strongly controlled and reported to our clients
- Skip Tracing
People who get into debt are likely to avoid payment, which may often mean changing their address, moving out of the city, and/or making other efforts not to be found. PICRS understates and executes Skip Tracing operations as amp; when deemed appropriate, when the tasks to locate debtors who have moved out of the city, or whose whereabouts are unknown. We understand that laws of country and a debtor who has moved out of city, may not be subjected to the same obligations as in the UAE In these cases, our sister concerns in other cities debt recovery are marked by our strong partnerships with several domestic repossession, collection & recovery agencies and law firms. These agencies are among the most respected in the country, and their services are directly reported to us, which means you will continue to receive the same care, timeliness, attention and unparalleled results. Dependent on the circumstances, our teams can locate most of the Skip Tracing cases and enable amicable settlement.
- Corporate Banking
The process of recovering a corporate banking case involves studying its case history, analyzing its key elements, generating an action plan, and taking necessary actions to establish a schedule of repayment
Our client portfolio includes banks and financial Institutions. The special cases we handle on their behalf include debt collection related to shares and stocks dues, among others. We are qualified to represent these clients at police departments and in court, at all levels and through all stages of
Jurisdiction. The Corporate Banking Department is supported by company. With its team of well qualified attorneys and legal experts, they study the feasibility of any legal action as a last resort, and provide effective legal support where necessary. Additional support is provided by our specialized Tracing Team who traces debtors whose whereabouts are not known, whether they are in the country or abroad.
