أسئلة وأجوبة
Legal way to exit the UAE with a bank loan
How to legally exit the UAE with an unpaid loan?
Dear Questioner,
You will have no other choice than reaching an amicable deal with the bank to try your best to pay part of the loan and the outstanding to be scheduled on several payments either before or after you leave the country. This is the only legal way.
Regards,
Ahmed Elnaggar
Loan by Bank
If the borrower failed to pay 3 consecutive instalments or 6 nonconsecutive instalments of the monthly instalments without the approval of the bank, then ALL the instalments, interests and any other fees and expenses become DUE AND PAYABLE IMMEDIATELY without any notification or any court ruling.
The bank may in all likelihood pursue a legal case (criminal and then civil) against you for default as well by depositing your security cheque which you provided at the time of availing the loans and place a travel ban.
So IF you have defaulted in 3 or more instalments you cannot leave the country (IF the bank has filed a case immediately). Timing is important.
