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Accumulation of credit card dues despite paying

Sir,

I had withdrawn cash of AED 5000 from my credit card a few years back. But due to financial problems, could not pay in time.

This has now accumulated to AED 45000. Though I have been paying roughly around 2000 a month the total amount is not coming down.

I spoke to the bank officials in person, but they are not willing to help. By now, I might have repaid at least 10 or fifteen times of what I had taken.

Is there a solution? I feel so tired and desperate. Can you help me?

Thanks

Ajay

Hassan Al Riyami Advocates & Legal Consultants
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11 Sep 2018, 13:20

Has the bank bounced your security cheque?

What is the amount that you have agreed to on this security cheque?

We can help you negotiate a settlement with your bank.

If you are interested, please mail us on advocate@alriyamiadvocates.com

Thank you.

11 Sep 2018, 13:26

No, the bank has not bounced the cheque yet, since even though with much difficulty am paying around 2200 AED every month.

I don't think any amount was mentioned on the security cheque. I think I had given a blank cheque while applying for the credit card.

It is the first time that I am approaching a lawyer.

Please let me know if the charges will be very heavy?

11 Sep 2018, 13:28

Please mail us on advocate@alriyamiadvocates.com

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