Questions & Answers
What to do if my friend is harassing me to pay the interest of a loan I took from him?
I had a friend who had loaned me money of AED 3,800 with which I am paying interest for over 2 years now, as my financial state is difficult and promised to pay before the year ends.
I am paying previously 15% and now 10% every month. This month I am paying half of the interest for some reason, and my friend keeps harassing me over a monthly interest.
Please advise if I can report a friend to the police over harassment and be forced to pay. Take note, I always pay interest on time but only this month I am short for money.
Dear Questioner,
Do you have in place a loan agreement with your friend?
If yes, is it issued between 2 individuals?
Please note that according to the UAE rules and regulations, if a loan is signed between 2 individuals it is illegal to request interest.
If you have already paid the loan and you have proof for it, you should stop paying interest and he cannot do anything to you.
Best regards,
Raluca Gatina
