Questions & Answers
Consequences of failing to reach a loan settlement with the bank
I have a case in the UAE due to personal loans and not paying monthly instalments after job loss and other family issues. I went back to India in March 2019.
The loan is not paid since Aug 2019 and I cleared all the dues on Jan 8th 2020. I informed the bank to withdraw the cases and allow me to come back to the UAE.
At that time, they didn't accept and informed me to go for a one-time settlement which I cannot. I tried several times to have an amicable settlement but they are not accepting.
Now they come up with a solution of paying AED 25000 as down payment and the remaining AED 40000 in 20 instalments. Due to my current financial crisis, I am not able to pay this.
Is there any other solution to sort out this matter?
Another thing now, I got an offer in a Qatar-based company. Is there any problem That I will face while I'm trying to enter Qatar?
Please help. I need to get out of these issues.
Due to the non-payment or non-compliance, they can place your security cheque and if it bounces, they can file a criminal case against you with the bounced cheque.
In that case, you'd be facing fine depending on the case amount and then cleared. But the bank can come after you with a civil case to recover their funds.
In that case, you might be facing a travel ban.
