Questions & Answers
The possibility to pay a small percentage of a bank loan as a settlement from abroad
I was working in Abu Dhabi.
I have a personal loan amount of 82000 and 20000 of a pending credit card bill. I lost my job due to the current COVID pandemic. When I came to India for my annual vacation, my employer terminated me and canceled my visa.
I was not able to come back. Even tourist visa possibilities were less.
As everyone in India aware that this job loss and paying back the debt of a UAE bank is very tough. I am ready to pay some small percentage of the amount to the bank as a settlement.
Is it possible?
Dear questioner,
There is a possibility where you can come to an agreement with the bank for a lumpsum settlement amount.
However, considering the fact that banks normally do not agree to the settlement straight away but yes, that is possible if you have sufficient documentary proof to support your claim.
As you mentioned that your employer has terminated you without giving any notice when you were in India, there may be a change to file for arbitrary dismissal that may make you eligible for the three months salary as compensation.
I can only advise you properly if I have complete details so please send us a detailed message via email.
Best Regards,
Jassim Ali AlHaddad Lawyers and Legal Consultants
