UAE Loan Problem

dan18
By dan18

I habe worked in the UAE before but got terminated, I tried to find a job but I failed. I have no choice but to leave even I have an existing bank loan. Now I’m here in Qatar and just started for new life. However, the debt collection got my number (I don’t know who’s their source) and I answered the call. She told me to be cooperative and I agree. But she said the case hasn’t file yet but it’s ready (not sure if its true). I told her I cannot pay the loan now even the missed months. I said I’m willing to start again even my salary is 3k. She said she will ask the bank what are the options. I need your advice so that I know what I can do and to deal with them in a nice legal way. Thank you and God bless.

By the way, is it possible to bring the case or complaint here in Qatar because as per the debt collection they are about to forward here because and they have office here. Thanks again.

By dan18• 4 years 2 months ago.
dan18

Good morning!

The debt collection team called to settle my loan. They advise me to continue the monthly payment and pay the other months that I missed to pay for the past 6 onwards. However, I’m not in thr position to pay the amount of 9k in one shot. I can state the normal monthly installments but not this. Also, they requiring me ti send salary certificate to prove that my salary is only 3500 riyals. But I’m afraid because maybe they will call my employer. What is the best thing next move, someone told me to send emaul to central bank of UAE. Thankss in advance.

By Molten Metal• 4 years 3 months ago.
Molten Metal

Good luck & better future my pal !!

By acchabaccha• 4 years 3 months ago.
acchabaccha

Angelo: A very good addition to my knowledge. A lovely piece of information. Thanks

By Angelo• 4 years 3 months ago.
Angelo

Accha, the writer has not mentioned the Bank, neither has he mentioned the guarantor.

Banks have branches in most GCC countries, namely HSBC Qatar and Mashreq Qatar. Mashreq is a UAE bank and we do business with them. HSBC has branches as well.

I was a guarantee through a friend of a friend, and I was charged the monthly loan amount and I got refunded.

A friend had to pay the loan amount of his brother in law as the brother in law had left the country and somehow the got him at his country of origin and also got in touch with my friend here.

The writer needs to get in touch with the local operation, he can agree to pay the loan in installments. By going via the debt collection company, they have their own interest and higher charges. - This is as per my experience and knowledge.

Things may have changed, and Banking is no longer a business. - Just a light comment.

By acchabaccha• 4 years 3 months ago.
acchabaccha

The bank cannot do anything to your brother at all. Somebody else cannot be blamed for the acts of a person. Also, your bank will not call your current employer. I am almost sure of this as this matter is just between you and the bank and your company comes nowhere in between.

Keep in mind, the bank is now in the receiving end and stands in a weaker position. They just want their money back, that's all. The fact you are willing to return their money is enough for them. So you can stand your ground and negotiate with them as per your requirements on how you will be returning the loan. Make it as easy as possible for you keeping in mind your needs. The bank will accept YOUR terms of payment but you need to stand strong.

Lastly, I had advised you in my earlier email to overlook any comment from Molten Metal. Keep this in mind and do not follow or accept what this person posts.

By dan18• 4 years 3 months ago.
dan18

Thank so much accha, molten and angelo.

I actually have email communication with the bank before but it’s seem they cannot give me options to reschedule or restructure of my loan that’s why stopped e-mailed them and I do not have work yet.

I’m really willing to pay in an installment again if they will give a good options. I’m just worried because I’m new to my work and I actually enjoying it. I’m scared maybe they will call my employer or tell that this person has loan and the bank filed a case blah blah blah. I have may bother in the UAE currently working their but again I’m afraid maybe the will harasst him. Because I him to ask the bank regarding my case and to know what is the best thing to do instead of dealing with debt collection company. Honestly, I suffered a lot and whatever other people says to me about what I did, it’s not my intention not to pay them, just so happen that I don’t have work

And money to continue it. I did not spent this money for my own interest and needs. My family and I need it. I’m sorry if I’m a defaulter now, whether they believe or not I’m still positive that this problem will end soon. Thanks again and have a nice day.

By Angelo• 4 years 3 months ago.
Angelo

Dan, I agree with Accha on the first part. Work out a payment scheme with the bank asap.

I feel is it morally wrong to take a loan and then ignore your commitments. Well, that's past.

With electronic intelligence, it is better to clear out of any place with a clean chit.

By Molten Metal• 4 years 3 months ago.
Molten Metal

Make a note of the CALLS, names of the gals , with date & time ............. You will be able to understand the full inner situation within 3 months from today. ........ Start from one side ..... wish you good luck & joys ...... !!

By Molten Metal• 4 years 3 months ago.
Molten Metal

Dan, Morning If your heart is clear you do not to worry at all. You are a nice person as I see it through your wordings ....... How much is the money they are asking from you ? ......... I used to tell people that N E V E R take money on loan from a bank, they are out to rob you when the times comes. In case it is very much necessary get money from your Manager or a kind colleague or a good neighbour. These 3 sources are the best to turn to. Avoid banks for any loan. Note down the names of the persons / relatives who forced you to take loan. It is very important, I am telling you. Those relatives are R E S P O N S I B L E for your this condition. Remember it through out your life. .........

By acchabaccha• 4 years 3 months ago.
acchabaccha

First, it is better for you and the bank to work a method which is acceptable to both parties so that the loan could be settled. You can tell them of your financial situation such as your income and your savings and how much you could pay them monthly. Second, I do not believe the bank in the UAE would be able to do anything in the political situation between Qatar and the UAE. Possibly, it may just be a hollow threat. But I am not sure of this. Wait for other QLers for their comments who may be having more information than I do on this matter. Just overlook any comment posted by one Molten Metal if its gets posted at all.

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