Questions & Answers
Questions & Answers
7 available 7 • View allWhat to do if you lose job and have a pending bank loan
104
Q: Dear Madam,
I got terminated from my company & I have a bank loan around AED 75000.
What do I have to do the next step?
Please advise me (ASAP)
Best regards

Jan 9, 2019
38767
Defaulting on the payment of bank dues and subsequent proceedings
2
Q: I have an auto loan, personal loan, and 3 credit cards in Dubai, all together sum to liability up to 75000.
EMIs for all the above are not paid and defaulted for the last six months because of unemployment. Now, I am out of the UAE. I am planning to go back to the UAE by next week.
I am afraid if there is any police case against my debts. If there is any police case, then what are the consequences and how can I resolve this, and how much would be the court fine if I get a chance to settle in court?

Jan 27, 2019
1455
Loan settlement with a bank after losing job


7
Q: I've taken a loan for 5 years from a bank in Dubai. I've paid for 2.5 years, then I've lost my job and had to leave the country.
Until now I can't find a job. I couldn't pay the loan instalment for 8 months.
The bank said that they've already written off the loan and is threatening to file a police case. The remaining loan is AED 340k. All I have now is only 150k.
I'm afraid that I pay what I have, then stop paying. And then the bank will file a police report. What should I do?
Is it possible to reach a deal with the bank to pay the 150k and they close the case and give me back the cheques?
If they're going to file a police case anyway, then it's better that I don't pay the 150k. It'll be a lose-lose situation for me and the bank.
I want to hire a lawyer to help me close this issue. And explain to me what are my options and how much will his service cost me.



Nov 24, 2019
3182
How to restructure a loan for the second time due to job loss?


2
Q: Dear Sir/Madam,
I was living and working in Dubai and had a personal loan in the amount of AED 1,000,000. I was paying my monthly payment of about AED 23,000/month regularly but then I lost my job.
I went to the bank and informed them about the job loss and asked for restructuring. They restructured and brought my payment down to 13,000/month. I paid for 2 months but could not make any more payments since I ran out of money and have now defaulted.
Is there a way for someone to help or guide me on a way out of this situation?
I can afford to make a payment of AED 4,000/Month.



Aug 30, 2022
311
The bank is going to file a criminal case upon client's job loss. What to do?

2
Q: Dear sir/madam,
I am late with a partial EMI payment due to the loss of my job knowing that I was never late for any payments for 13 years and all my end of service was paid to the bank.
Now they keep saying that since I cannot give an actual date of providing the left payment, they will take immediate action and open a police case.
Why are collection teams given the right to threaten and mistreat customers and always use criminal cases immediately?


Aug 30, 2022
289
Inability to pay loan installments after termination. What to do?

1
Q: Dear questioner,
I got terminated from a company within the probation period. I have a personal loan of 70000 AED and paid only one month's EMI.
I can't pay the loan until I get another job.
Please advise what I have to do!


Nov 14, 2022
420
How to settle a bank loan after job loss?


1
Q: Hi,
I have just got a message from the Dubai court for a travel ban and a case number.
I have an issue with my bank for an unpaid loan and credit card although I tried many times to settle.
What do I need to do next?



Feb 20, 2023
167
Legal blog
1 available 1 • View allThe Consequences of Job Loss and Defaulting on Financial Liabilities 26
The management of individual financial affairs is crucial and all the actions must be weighed down while committing to any financial liability. Whether it's job loss that may have lead to financial failure or the opposite, one must be aware of the personal liability which will not diminish by paying fines for cheque bounce cases. There are two major types of liabilities, criminal liability and civil liability. Each has its own significance, hence, must be dealt with accordingly.
Feb 12, 2019
18906
Laws & Regulations
4 available 4 • View allFederal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47923
Federal Law No. (18) of 1993 Issuing the Commercial Transactions Law 19
This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.
Sep 7, 1993
33028
Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.
Dec 15, 1985
148437
Federal Decree Law No. (14) of 2020 Amending Certain Provisions of the Federal Law No. (18) of 1993 Concerning the Commercial Transactions Law 4
The provisions of this Decree by Law amend the Federal Law No. (18) of 1993 by replacing Clause (4) of Article (379) as well as Articles (600), (617), (641), (642), (643), (644), and adding new articles numbered (635) Bis, (641) Bis (1), (641) Bis (2), (641) Bis (3), (641) Bis (4), (643) Bis (1), (643) Bis (2), (644) Bis (1) and (644) Bis (2). The Decree-Law also repeals Articles (401), (402) and (403) of the Federal Law No. (3) of 1987.
Sep 27, 2020
3538

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Can we give a salary certificate to a new hired employee before he starts to open a bank account? 0
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View allWhen to claim an inheritance in Dubai while being abroad and which law is applied ? 0
Dear sir/madam,
I would like someone to be honest with me. I am in the UK. How long have I got to claim inheritance in Dubai?
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Mar 25, 2022
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I seek to cancel a purchased property and get refund for delay in handover 0
Dear Advocate Sweta Singh,
I am from India and in Sep 2018, I purchased an apartment in a hotel. The hotel has not been completed and the delay is more than a year.
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Is it possible to apply a will issued in South Africa in the UAE? 0
Dear questioner,
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How can we access the bank account of a deceased person? 0
My uncle died 2 weeks ago in one of the private hospitals here in Dubai.
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He used to give me an access of his ATM card before and I tried to access it just few days ago and I found out that there is some amount of money left on his bank account.
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Feb 10, 2022
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