Q: I had a loan from a bank for AED 140000. he recovery is calling me and my family. How can I settle the money? If I go back to Dubai, will there be any imprisonment? A: Try to ask the bank for a settlement agreement. In this stage, you can negotiate with them for a reasonable amount you can pay…

Dubai, UAE

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Settlement of a bank loan and possible actions by the bank

I had a loan from a bank for AED 140000. I lost my job in Dubai and I had to return to my home country.

Now, the recovery is calling me and my family. I have no money because I had a loss in my business.

How can I settle the money?

If I go back to Dubai, will there be any imprisonment?

Dr Amira Al Bastaki

Dr Amira Al Bastaki Advocates and Legal Consultants

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7 May 2019, 18:06

Hello Sir.

Try to ask the bank for a settlement agreement. In this stage, you can negotiate with them for a reasonable amount you can pay each month with less profit until recovering the whole amount.

8 May 2019, 02:52

What if they file a legal case?

For how many days will there be imprisonment if I go to Dubai?

8 May 2019, 05:16

This depends on the case they file. Also, it may be only a police report so you only deposit your passport at the police and leave.

8 May 2019, 05:48

I have no money to give and no job. I don't want to stay in Dubai. That's why I asked.

If there will be any imprisonment, then I will avail it and leave Dubai. Is it possible?

For how many days will imprisonment be?

Can the court let me go as I have no money with me?

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Settlement of a bank loan and possible actions by the bank