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Documentation for Financial Settlement Request

  • October 20, 2021
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While you are proceeding with the final settlement requests, you have to provide all the necessary information. This requires all the documents asked in the letter or form as well. Debt collection Dubai agencies can help you here with their expertise and knowledge in the completion of the documentation.

Necessary Documents for Financial Settlement

Below is the list of some necessary documents needed for proceeding with the financial settlement request.

  • A Statement with Details

A statement with the details of the current and expected creditors of the debtor is the necessary documentation needed. Usually, the names and addresses of the creditors along with the amount of each debt will suffice. However, if more is required, you are ought to provide it to the authorities.

  • A Memorandum

A memorandum that will give a good overview of the debtor’s current financial position. In the document, it must highlight things such as the debtor’s sources of income both locally and abroad.  Moreover, the liquidity projections of the debtor within 12 months of the application being made is required.

The debtor`s professional status at the time of the application is also given by the debt collection Dubai agencies.

  • A statement from the debtor

A statement from the debtor is necessary that acknowledges that he is in a financial dilemma. Additionally, he must also state that he was not able to pay his current (and possibly future) financial obligations. It is necessary to provide this documentation to proceed with the procedure smoothly.

Final Remarks

Therefore, if you want to proceed with the financial settlement due to some troubles, seek legal help. The debt collection Dubai agencies are there to help you with their in-depth knowledge and expertise. Moreover, they provide their services in Sharjah, Ajman, Fujairah, Abu Dhabi, and other states of the UAE as well.

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