Questions & Answers
How to settle with a bank after the issuance of an absentia judgment?
Dear sir/madam,
I have a personal bank loan from a bank in Dubai and I paid for almost 3 years properly. After that, my income of salary is now very less. I stopped my installment.
The bank first filed a criminal case and I paid the court fine. Now they have given a civil case and the court made execution. It is an absentia judgment. Now I have a travel ban and an arrest warrant they have given for 505000 AED but my actual balance (without interest ) is only 220000.
How can I settle with the bank and how much they will accept to settle?
Please advise!
Thanks!
Dear questioner,
We can certainly help you out with settlement options as per your financial situation and with an arrest warrant and travel ban removal.
Please reach me via phone for further discussion.
Hi questioner,
Since you stopped making the payment without notifying the bank, the bank approached the civil court for the recovery of the payment and all the interest due to non-payment of EMI along with the court fees and compensation has been added to it.
However, if they feel you intend to make the payment and settle it, they might agree to the negotiation.
So, it is advisable to approach the bank directly to negotiate with them, only they can decide if they want to negotiate.
