Q: Hi, I lost my job a year ago and I have an outstanding credit card of AED 300k. I've missed the last 9 monthly payments (I am negotiating directly with the bank). I am willing to settle the credit card with one lump sum payment that a friend will lend me. How much discount on the balance of AED 300k can I negotiate to settle the matter? Should I also ask for a clearance/ no liability letter?

Q: Dear Sir, I am an Indian national, and I defaulted on a personal loan & credit card payments. I lost my Job and I didn't pay my EMI and credit card payments. I am seeking help from you, could you help me with this? I am not a willful defaulter. Now, I am In my home country.  

Q: I have a credit card outstanding of 69k (including interest and other charges) and was not able to pay since I lost my job. They filed a case in Dubai. How to handle this? Can they file the same case in other emirates also? Please let me your charges also for consulting.

Q: Dear Advocate Khalifa, A strange situation happened to me on Saturday 14th of January and I am a bit concerned about it. I was dropping two guests, who came as tourists to a hotel in Dubai and I parked at the drop off area. I was saying good bye but a car stopped behind me and start horning. The driver lost patience and blocked my way. He came to talk to me and even gave me a slap on my hand. I didn't want to pursue the discussion and even said sorry (as maybe he was in a hurry). Nonetheless, I drove away when he moved his vehicle and he said he will call the police. He took my vehicle number. As it is now, I am unsure whether he filed a case against me. Is there any way of verifying this and how much does it cost bearing in mind the incident happened on Saturday? Thanks for your support and regards, A. J.

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.