Questions & Answers
Expected legal action in case of defaulting on a bank loan
Hi
I have a personal loan around AED 230000 in the UAE. I'm outside of the country.
I have not taken the last 2 months salary of April and May and I can not pay the instalments.
Now the bank started to ask for the payment.
What will be the next step?
Will they raise criminal case outside the UAE?
Can I reschedule instalments?
Please advise.
M.
They will file a case sure if you did not reply and pay. It's better to negotiate with them.
We can help you. Please contact us on email or phone.
Dear questioner,
Banks can file a criminal case (with travel ban) after 3 or more than 3 months of default.
Banks can also file a civil case in order to recover the outstanding amount.
If need be, kindly contact us by phone for a detailed discussion or write to us at our email for further assistance.
