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Right action after the failure of settlement with the bank

Good Day.

I would like to ask for some advice regarding my case.

I haven't been able to pay my bank loan before because I lost my job. I was not able to pay my bank loan for 3 months because I don't have the money yet.

But then the bank filed a police case against me for a bounced cheque. I got in jail, paid police fine and got cleared from the police case, then had a court hearing scheduled on 23/12/2019.

After paying the police fine, I contacted the bank and I paid an amount of AED 2525 for the accumulated instalment amount that I haven't paid plus a legal fee of AED 475.

But I still have a remaining amount to settle and submitted the requirements for deferment and they will withdraw the court case. After a couple of weeks, the bank informed me that the request was rejected.

So I don't know what I will do from here on. I still have a court case. Please advise as I am already stressed out about this. I am not running away from my obligations but the bank doesn't understand my current situation.

Please help me.

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Maryam Hayyaz & Wejdan Bushahab Advocates
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26 Nov 2019, 07:23

Dear questioner,

We can definitely help you in this case.

Kindly contact us on the phone for a detailed discussion or write to us at our email for further assistance.

Maha Bin Hendi Law Firm
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26 Nov 2019, 07:37

Hello,

Under the new Insolvency law, effective January 2020, you will be able to file a Court request for restructuring your debt and settlement of your financial obligations.

In light of the latest changes, we recommend you to communicate with the bank again and propose a settlement plan.

If rejected, you will be able to provide this as documentary proof to the Court.

Kind regards,

Maha Bin Hendi Law Firm

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