Questions & Answers
Settlement of a bank loan and lifting travel ban and cases
I have a police case for a bounced cheque last year March 17. It was against a loan which I drew but later I changed my job.
I left the UAE and came back, but before I can do something the bank felt insecurity and immediately they submitted my security cheque to the police station and put a case on me.
The same day, I paid the fine and came out. Later, I joined a new company and provided the necessary documents and new security cheque.
My account was then regularised (After resigning from the previous company my account was frozen) and since then everything is fine. Now, I want to settle my loan in full. I already mobilised funds needed.
I want to know asap if I settle the loan in full, how the travel ban or police case will be removed? Will the bank do everything and give me a clearance letter?
Dear
We believe that you can't settle the outstanding amount in full to the bank in normal basis since the bank had filed a case against you earlier.
Hence, we believe that you should have a settlement agreement with the bank which contains all the major circumstances that happened before between both of you.
In addition to this, the bank should return the new security cheque to you, and this settlement agreement should be notarized by the notary public.
This is the utmost secure way to settle with any bank in the UAE.
