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What is the minimum amount of bad debt in the UAE for credit cards?

Dear Sir/Madam,

What is the minimum amount of bad debt in the UAE for credit cards? Is 6,000 considered bad debt?

And after how many missed payments is someone considered a defaulter?

متميز
دار الحقوق للاستشارات القانونية
دردشة توظيف
اجتماع
18 Nov 2023, 07:30

Dear Client,

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

The minimum amount for bad debt on a credit card in the UAE varies, but missing consecutive monthly payments is a common trigger.

AED 6000 could be considered bad debt, depending on your outstanding balance and payment history.

Contact your bank to discuss your situation and potential solutions.

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 definitely be happy to help you.

Thanks & Regards,

ABDUL WAHIED

متميز
أميري محامون ومستشارون قانونيون
دردشة توظيف
اجتماع
18 Nov 2023, 10:14

There is no minimum or maximum limit, meaning there is no law regarding this, and this matter depends entirely on the bank’s policy.

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