Q: Hi, I have an outstanding loan of 150,000 in Dubai but I am no longer working in Dubai and currently looking for a job in my home country. My intention is to pay the installment amount in a timely manner but I want the bank to decrease the interest charges. Is it possible for the bank to do so?

Q: What happens if I failed to pay several installments from my personal loan from the bank?  I have not received any warnings or notice to pay, does this mean they filed a case or they must send me a notice first.

Q: Hello, I have a notice from the DIFC courts against my personal loan which I borrowed from a bank in 2014. The amount is AED 350k. I have already served the jail time; 2 months for the criminal offense of signing the cheque. I am offering a settlement to the bank in monthly installments which I can manage, but they are not agreeing upon and, now, the court will resume the hearings. The problem is that I wanted to pay off, but I can't afford to pay heavy installments which the bank is asking for. How to convince the bank?

In the UAE, cheque bounce is a very frequent problem faced by people during their span in the country. It is covered under the purview of Commercial Transactions Law, and legal implications/penalties can be financially severe and daunting for more “serious” offenses. Bounced cheque issues may arise in a variety of commercial transactions, including but not limited to, companies’ exchanges, bank loans, property rents or purchases, and individual transactions.

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.

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.