Q: I missed my bank credit card payment for the last two months. How long will the bank wait before taking any legal action? They do not have a security cheque from me… A: They cannot put a criminal case against you. They can file a civil case against you, and this is taking a longer time…

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Defaulting on credit card payments and expected legal action

I missed my bank credit card payment for the last two months. How long will the bank wait before taking any legal action?

Also, they do not have a security cheque from me. So what can they do exactly in this situation?

Dr Amira Al Bastaki

Dr Amira Al Bastaki Advocates and Legal Consultants

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7 Aug 2019, 12:38

As you are saying they don't have a security cheque, they cannot put a criminal case against you.

They can file a civil case against you, and this is taking a longer time than the criminal case.

7 Aug 2019, 12:46

Thank you.

Is there a minimum period the bank has to wait before they can file a complaint?

8 Aug 2019, 08:29

Actually this depends on the bank and the thing we know about that they need to send you a notice before filing any case.

8 Aug 2019, 09:36

Thank you very much again

I came across the following online - can you please confirm if this is correct:

'In accordance with the guidelines issued by the UAE Central Bank, a borrower needs to have missed three monthly repayments before a lender can register a police case.

https://www.thenational.ae/business/money/when-does-a-bank-file-a-travel-ban-for-loan-defaults-1.761076

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Defaulting on credit card payments and expected legal action