It can be an extremely stressful time if you lose control of your debts and can no longer keep up with monthly instalments on credit cards or loans.

There are many reasons why debts can spiral out of control — from losing your job to facing a medical emergency, or even spending beyond your means.

Whatever the reason, there are consequences — after three missed payments, banks in the UAE will alert their collections department about a debt default.

That is a situation you don’t want to find yourself in as you could eventually face legal action and a travel ban.

But how do you negotiate with debt collectors and — more importantly — make it work to your advantage?

Host Felicity Glover is joined by debt collection expert Jaya Ratnani, managing partner of Freed Financial Services, who discusses what to do if you are contacted by a collections team.