Q: I got terminated from a company within the probation period. I have a personal loan of 70000 AED and paid only one month's EMI… A: You can send a letter to the bank with the details of the completion of the work. The bank will give you a grace period of three months from paying the installments…

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Inability to pay loan installments after termination. What to do?

Dear questioner,

I got terminated from a company within the probation period. I have a personal loan of 70000 AED and paid only one month's EMI.

I can't pay the loan until I get another job.

Please advise what I have to do!

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Khaled Ebid

Laila Hamza Al Mulla Advocates and Legal Consultants

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14 Nov 2022, 06:44

Welcome!

We wish you get a new job as soon as possible.

You can send a letter to the bank with the details of the completion of the work and the bank will give you a grace period of three months from paying the installments until you get a new job.

14 Nov 2022, 06:50

Thank you for your wishing.

Insha Allah!

14 Nov 2022, 07:36

You can contact them directly to settle the matter.

Soon you will have a job in the UAE with a lot of job opportunities.

14 Nov 2022, 07:56

OK.

Thank you for your motivation!

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Mohamed Bakheet

Mohamed Bakheet Advocates & Legal Consultants

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14 Nov 2022, 19:52

Dear questioner,

Wait until you get another job.

Send the termination letter to the bank.

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Inability to pay loan installments after termination. What to do?