Questions & Answers
Loan settlement with a bank after losing job
I've taken a loan for 5 years from a bank in Dubai. I've paid for 2.5 years, then I've lost my job and had to leave the country.
Until now I can't find a job. I couldn't pay the loan instalment for 8 months.
The bank said that they've already written off the loan and is threatening to file a police case. The remaining loan is AED 340k. All I have now is only 150k.
I'm afraid that I pay what I have, then stop paying. And then the bank will file a police report. What should I do?
Is it possible to reach a deal with the bank to pay the 150k and they close the case and give me back the cheques?
If they're going to file a police case anyway, then it's better that I don't pay the 150k. It'll be a lose-lose situation for me and the bank.
I want to hire a lawyer to help me close this issue. And explain to me what are my options and how much will his service cost me.
Dear questioner
We can definitely help you with this case for rescheduling the due payment.
Kindly contact us on the phone for a detailed discussion or write to us at our email for further assistance.
You can opt for two options:
Option 1: By settlement with the bank:
In this, our firm is going to help you with a formal deal with the bank, offer the available amount on your hand and arrange settlement for the remaining balance.
Option 2: By Judicial Procedure:
We can file a case and assign an expert from the court to illustrate the loan principal amount and interest amount. Thereafter, we can make a request to the judge to pay only the principal amount.
Please send more of your details to email and call us through telephone for a thorough discussion.
