Questions & Answers
Is it possible to postpone bank installments due to salary cut?
Hi,
I took a personal loan and have a current outstanding 18 months to pay amounting to AED 63,975. In 2018, I lost my job but still managed to pay my dues until April 2019.
My salary on the new company is lower compare to when I took the loan, and due to current COVID-19, my current salary has been cut further down of 40% and will not be able to pay my monthly dues.
What with be my legal case if I will not be able to settle this outstanding amount?
Your response is highly appreciated.
Dear questioner,
In the event of default on bank payments, the bank will file a criminal case against you with a travel ban.
Further, we can help you to solve it. If need be, kindly contact us by phone for a detailed discussion or write to us at our email for further assistance.
In accordance with the decisions issued in this regard regarding the postponement of instalments and loans, it is possible to contact the bank to postpone the instalments according to the current circumstances.
Although the bank can open a criminal complaint against you.
