Questions & Answers
How to restructure a loan for the second time due to job loss?
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.
Dear Mr. Ahmed,
Thank you for your query!
Regarding your situation, it is possible to make a settlement or new restructuring plan with the bank, however, we would need more information regarding your situation (which bank, if there is a case against you, etc).
For more legal information, please contact us via phone.
Thanks!
Hello,
Firstly, negotiate with the bank to restructure the loan with lesser EMI. If that does not work, it is highly recommended to hire us and we will communicate on behalf of you with the bank and defend you in court.
Kindly contact us.
Thank you!
Dear A. A.,
In order to understand how to proceed with the bank, you need to conduct a check first to know if you have a case, arrest warrant, or travel ban filed against you.
Please send us an email to discuss this in detail.
Regards
