The new UAE law will help and support people who are facing current or anticipated financial issues! • Insolvencies will be regulated to protect individuals from bankruptcies and legal prosecutions • The law enhances the convenience and accessibility of legal proceedings • Residents will be able to reschedule their debts and take on concessional loans with more lenient interest rates and grace periods • Debtors will be able to avoid legal prosecution and continue supporting their families reaching a compromise with the creditors and working to settle the debt within 3 years • The 3-year plan to settle the debt will be coordinated and facilitated by appointed experts • The law will come into effect as of January 2020 • The debtor will not be allowed to take on additional loans unless permitted by the court as per request of the appointed expert(s) • Fulfilling the agreed plan to settle the debt will show the person's eligibility to take on new loans • The law's special provisions reduce the time and costs required to complete the legal proceedings and resolve the debts For advice and assistance with financial issues contact our professional consultants: Call: +971 4 341 9701 Whatsapp: +971 50 911 0516 Email: mkt@adamglobal.com Visit our website to learn about our services for companies facing financial issues!