Taking Ownership and Responsibility for a Debt-Crisis with Commercial Debt is Critical!
As the only Authentic Remedial Company in the UAE, we are approached with dire values of Commercial Debt, where the Owner sees no positive way out of the situation. Prolonging finding a solution, results in recurring Penalties and Interest compounded onto your Principle and if you dont maintain your EMI’s *Equated Monthly Installments and the other commitments with a variation of Credit Facilities, then you will find yourself in an almost impossible situation and with that contributes Mental Health decline, Anxiety, Depression, Emotional Fear, Toxic Relationships, broken Family Relationships, a dire loss of business as you cannot meet your Creditor and other Supplier payments, your Companies financial commitments and that of your Family.
Banks are now very strict, more than before, but also open to mediating, negotiating and finalizing amicable Remedial Solutions, tailored to benefit both Parties. As a Debt facing such a crisis, you always assume that there is ‘No way out’, when there is, the issue is that you must step forward, show that you are taking Ownership and Responsibility and after sometime, all will fall into place and you will wonder why you didn’t act so quickly initially.
Whatever we fear, hardly happens to us, as it is purely a “Figment of our Imagination,” however, contrary to this belief, if you focus on the negative for too long, you will eventually manifest your greatest fear, because we create our own reality, nobody else. You cannot be engulfed in fear and expect to win the day, because everything within us, must be aligned.
Quite often we find indebted Clients like these, embraced the initial Credit availed to them, then after a short period, they became irregular in their payments and finally halted all payments, maybe for 10years or more, but they enjoyed the fruits of the facility, whatever income was yielded from this investment and never repaid the Bank. 10years later, they are caught in a legal web, but opt to offer the bare minimum in repayments, with an attitude that the Bank owes them instead of visa versa, complaining about Penalties applied, etc. Realize the Bank Contract you signed, was approved by you, where the Bank has the right to apply Penalties where a Contract is breached. It is therefore the Bank’s decision to apply exceptional leniency and consideration with a final discounted value, not their duty, so arguing the final decision, is bad ethics and unfair to the Bank. Debtors should understand that nobody gets away, everyone repays their dues in some shape or form, at the time you least expect it.
Sacrifices are the order of the day to repay Debt, not a nice feeling, but the truth and as soon as Debtors are prepared to make these sacrifices and show some honour and integrity, all involved Parties can recover the best way they can.
Life is a ‘Give and Take’, with a ‘Cause and Effect’ Principle and it is applied each time with every action we apply in our lives. EFFRS is here to extended our Debt Remedial Hand to UAE Personal and Business Commercial Clients and Companies, so please feel free to reach out to us!
