Q: My service has been terminated by the company as it is stopping its operations in the UAE. I have 2 credit cards that have a due. How can I manage in case I have to leave the country… A: According to the law, you have the full power to remove the credit amount through the insolvency procedure…

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Personal insolvency procedures in case of losing job and defaulting on credit cards

My service has been terminated by the company as it is stopping its operations in the UAE.

I have 2 credit cards that have a due amount of nearly 130K for which I keep paying the EMI so far. Meanwhile, I don't have any job offer in my hand.

How can I manage in case I have to leave the country, or if not, in a position to pay the due immediately?

Abdalla Salem Alzaabi Advocates and Legal Consultants

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30 Oct 2021, 08:29

According to the law, you have the full power to remove the credit card amount through the insolvency procedure.

Please note that you have strong evidence regarding it.

For more information and inquiries, do not hesitate to call us.

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