Questions & Answers
Bank files a case despite seeking help during rent downturn - Need advice
Dear Sir/Madam,
I took a secure loan (AED 400k approx) against my property about 6-7 years ago.
I had been paying all installments till the sudden downturn in rents in 2019 when I approached the bank for a solution.
Now in 2023, my bank has filed a case in Dubai courts against me without any substantial discussions or negotiations. I have been asked to meet on 21st Feb on a Zoom call since I am overseas.
Can you please offer some advice on what I should do?
Dear questioner,
The best solution is to contact the bank personally or the lawyer who represents you and reschedule the bank's installments to suit the current situation.
Hi dear,
We suggest hiring a law firm to try to get a settlement with your bank.
You can contact us at the NIA law firm via phone.
