Services for our Bank or Creditor Clients are as follows…
- Our initial Remedial Business Model – Includes ‘Walk-in and Word of Mouth/Referral’ Clients facing a Debt-Crisis, applying the Banks Loans and Rescheduling Policy where from inception EFFRS have enjoyed retaining consistency with the Continuity of Business outcome, whilst adopting this Model.
- This Model ensures that we can refer the Client, whether still in the UAE or exited, to the Bank Creditor to review their Remedial Request for approval, where EFFRS have completed their Due Diligence as per the Bank’s Policies. We have found that many of these presented Clients, were unrecoverable and later outsourced and allocated to Collection Agencies, who also failed to contact the same Client. This is how we have created Value for the Banks over the years, as a courtesy service, to avoid this surplus of absconding Debtors, but initially the concept was not embraced unfortunately, even today, there is resistance to change, when the process is beneficial to both the Creditor and the Debtor.
- Contracted Bank Clients (A)- We apply our Loans & Overdues Remedial Mediation Services to these allocations received from Banks, because we apply a softer skill technique that is far removed from historic Collections and is much more effective to secure the approval of the Customer to start settling their debt with the Banks, by applying the Loan and Rescheduling Policy.
- Contracted Bank Clients (B) – Recently we launched a few new Services where we apply our unique ‘Searching Methodologies’ to In-house Bank Collections Allocations, to assist their teams to secure invaluable information on the Customer, enabling the team to directly contact and secure the Settlements for the debt. This is already activated and current with a Financial Institution, where we were informed that the results were outstanding.
- Filing of Legal Cases in India – Due to the recent Legal Law Gazetted in India, in collaboration with the UAE, we are currently collaborating with our Legal Indian Counterparts to expedite this Legal Process, on assigned allocations from Banks. Prior to expediting the Legal Case Filing in India, we first apply our own techniques locally to ensure that the action is viable and will yield results. Hence this service creates huge value for the Banks to recover their assets, where the same case filed in the UAE is filed in India, after proof is secured. The final outcome is direct full Settlement or applying the Banks Loans and Rescheduling Policy.
- Creditors excluding Banks who wish to secure their outstanding Debtors – We are expert mediators, within the context of applying the most effective Loans and Overdues Rescheduling methods, so we will approach your Debtors to secure your outstanding funds by approaching, meeting, discussing and mutually agreeing on a settlement that you will approve, this may include releasing Legal Action filed, but under specific terms and conditions, besides new financial instruments.
- Outsourcing of Bank or Client Collections Departments – We are offering dedicated office space for our Clients Teams to undertake the management of their Collection, Recoveries and Remedial Departments, where we will apply our experienced Loans and Overdues Rescheduling professional methods and policies, to effectively achieve the desired objectives stipulated by our Clients.
- Clients requiring assistance with Rental Dispute or similar Cases – We also mediate between Parties, on behalf of our Client to reach an amicable agreement, possibly to avoid Legal Action and if the latter has been filed and judgement taken, then we still act as continual mediators by applying Administration Tasks to achieve new results.
- Traders and similar Clients – We apply the same Remedial Mediation Process to mediate between all Parties to achieve approval on an amicable repayment agreement.
- Debt Workshops – Specifically designed for large Corporates, Government and Companies with a high no of staff compliment, where the Organizations are ‘A’ Listed with Banks, affording their employees ease of securing credit, becoming over-extended, where Banks and Authorities have already confronted HR Departments, then we are summoned to facilitate these Debt Workshops for their employees and it has proven to be highly successful. The Event is normally convened at the Clients Office Premises.
- EFFRS Open Days and Kiosk Allocations – These are specific days booked by Corporates for EFFRS to be on site for one or more days, to confidentially consult with their employees, facing a Debt-Crisis. This and the Debt Workshops are imperative, because if not actioned, will result in the employees decline in productivity and performance, also family life deteriorates and they are all linked. The Kiosk is an allocation by large Corporations where we are assigned to be present on specific days, rendering the same Remedial Service.
- Very High Valued Corporate Debts – Managed very confidentially so should you have such a requirement, please directly email our CEO Theda Muller theda@effrs.com, as she manages all these case types.
- Real Estate Remedial Services – From inception of the 2008 downturn, where around 2010, Investor Clients were seeking to recover their investment funds on a variation of projects, our CEO assisted these clients and achieved success within this domain, whether the Client was locally placed or overseas. There were a variation of successful outcomes, where today, there could be a need for this service, where she has visited the relevant Real Estate Authorities to remain abreast with the regulatory Laws imposed, to ensure that should we secure a new request, that we remain in line with the Regulation. Normally each request varies from the other, so should you have such an inquiry and you are an Investor, then please directly email our CEO theda@effrs.com, as she would be the chief mediator within this scope of work, if she approves to undertake the case.
We reiterate that Loans and Overdues assignments have vast variables across all key industry sectors, however it creates huge value with sterling outcomes if the process is applied professionally, methodically, whilst being aware of that industries Regulatory Laws and Policies, which we respect. However, the core task is mediation between the Parties, to reach an amicable Settlement Agreement, either by a one-shot full settlement or rescheduling the total liability into a new Settlement.
Because Debt Remedial is the core business of EFFRS, we have learnt the hard way, therefore that experience is diligently applied for the best outcome of all concerned parties. We operate in line with UAE Regulations and whilst we do not render Legal Services, our CEO has vast experience as she was employed in the largest Legal Firm in Dubai many years ago and has maintained consistency to remain abreast of Regulations, also because Clients who approach EFFRS for Remedial Rescheduling and Overdue Services, sometimes have Legal Cases filed for the liability, which is where the knowledge and experience to achieve success for this assignment, is applied, to ensure a seamless process.
With the current restrictive pandemic ongoing situation, we are prepared to receive many unique Debtor or Creditor Requests, since many situations have unfolded where Individuals, SME’s, Company Owners and Corporates will seek advice and support, so we are standing by to be that key factor who will make a difference and do whatever it takes to fully support them and the country.