Questions & Answers
Seeking settlement with the bank for defaulting on a loan
I am a defaulter on a bank loan in the UAE.
Now, I am requesting the bank for settlement but still no reply from their side, can you guide me on this?
What I have to do now? I am offering them but they're still emailing me about a legal case. Any solution to this?
Dear Sir/ Madam,
The only alternative for you is to approach the bank personally and offer settlement terms.
Although if the amount is low, they will deposit your cheque (if it bounces then there will be a police case).
After the police case, the bank will have to institute a civil case to recover its dues.
The option to settle exists at all stages of the case. If you want, then you can appoint a lawyer to negotiate the terms on your behalf.
The bank will take an offer from lawyers more seriously.
You may get in touch with me on 052-9495731 or email.
Regards,
Hari Wadhwana
