Questions & Answers
Legal action by the bank for defaulting on a loan after losing job
Hi,
I am looking for expert legal advice.
Someone has defaulted on a loan payment of AED 250,000 and unable to pay due to job loss, currently residing in the home country.
What legal actions can the bank take in the UAE and home country against him?
Thanks for your valuable advice.
Dear Questioner,
Pursuant to the query, the bank can file a case against you.
If the bank has put the Security Cheque and if it is bounced, the bank can file a criminal case against the bounced cheque and a civil case against you for the recovery of money.
Considering the amount which is more than AED 200,000 there is a chance for a jail term and fine, as per the decision by Judge.
If you need we can help you in drafting a bail application. Kindly contact us on by phone to have a discussion.
Dear Questioner,
There are many things that could happen to you regarding your case. Since the loan amount is more than 250,000, the bank can take many actions against you.
So kindly if you can send us an email regarding your loan we can assist you further and help you out with your case.
Thanks.
