Eligibility for bankruptcy if I have a commercial case of less than AED 30,000

Dear Client,

Thanks for your question! I hope you are doing well. I will assist you in this matter.

To determine eligibility and navigate the process, consult with us as we specialize in UAE bankruptcy laws.

The steps generally involve engaging an attorney, assessing eligibility, filing a bankruptcy petition, attending court proceedings, and potentially obtaining a debt discharge or following a repayment plan.

For any further legal assistance, you can WhatsApp us. We have an extensive team of knowledgeable and experienced lawyers to provide the legal assistance you need.

We will be happy to help you.

Thanks and regards,

ABDUL WAHIED

Dear Questioner,

You may be eligible to file for insolvency/bankruptcy if you have a commercial debt of less than AED 30,000 and are unable to pay it due to prolonged unemployment.

The United Arab Emirates (UAE) has a personal insolvency framework that allows individuals with debts of up to AED 300,000 to seek protection from creditors and restructure their debts.

However, there are certain other criteria to be checked for insolvency.