Questions & Answers
Dealing with bank loan cases before being contacted by police
Sir,
My security cheque of AED 219,000/- was bounced by the bank at Bur Dubai police station. I have not received any call or information from the police station.
I took a personal loan of 150000/- I paid 139000/- balance pending is 84000/- with interest. Two days back, I have received an email as a demand notice from the bank for payment of outstanding due 84000/-.
What do I have to do in this situation?
I have no information from the police station also.
Should I negotiate with the bank or avoid the notice?
Please reply.
Thanks and Regards
K.
Dear Mr Kumar,
Thank you for reaching out to me on this.
Please note that you should immediately resort to legal assistance to settle the police case.
Since the amount of the cheque is over AED 200,000/- there is a risk that you might face consequences in terms of imprisonment or fines.
You have to be careful about how you deal with the police case.
You may try to negotiate with the bank but considering you have a police case, the bank will hold leverage and you will not get a good settlement.
You may get in touch with me on 052-9495731 or email for further assistance and clarification.
I trust you will find this helpful.
Regards,
Hari Wadhwana
