Q: I have a loan from a bank of AED 190000. It's been a year. I lost my job in the month of October 2018. Till March 2019, I was paying EMI. Starting this month, I am not in a position to pay. I went to the debt collection dept to reduce my EMI, but they're asking for an offer letter from the new company to reduce my EMI. What is ur advice on this? Note: I missed one month EMI last Dec 2017.

Q: I lost my job last year because of the pandemic. I took a 3-month visit visa 2 times in hope of getting a job. But I ran out of funds and overstayed, as of the moment my fines are AED 7100 now. I do have a credit card and personal loan and defaulted on my payments. As per the bank, they already filed a case against me. I am still waiting for a call from the Police. A few days ago, I got a job offer. They told me to settle my issues before they process my work permit. I am afraid they will not wait for me if my issues are not resolved soon. Is there a way I can waive or reduce my fines for overstaying? How much will my fines be in the Police for a credit card limit of AED 9K and AED 18K, and my principal loan amount is AED 160K and had paid one year only? Can I still get a visa if I pay the fines to the Police? Or I will go to jail? What will I do?

Q: I was working in Abu Dhabi. I have a personal loan amount of 82000 and 20000 of a pending credit card bill. I lost my job due to the current COVID pandemic. When I came to India for my annual vacation, my employer terminated me and canceled my visa. I was not able to come back. Even tourist visa possibilities were less. As everyone in India aware that this job loss and paying back the debt of a UAE bank is very tough. I am ready to pay some small percentage of the amount to the bank as a settlement. Is it possible?

Q: I have a personal loan and a credit card and due to job loss, I was struggling to find a way to pay the dues. I have 3 months' dues left and my credit card as well is pending. I did inform the bank about the job loss, however, they have bounced the cheque and a travel ban has been initiated. Now I'm paying back the dues little by little, however, the bank called and asked me to pay an amount that I cannot afford at this moment. They are proceeding with the full amount recovery procedure. Recently, I have acquired a low-paying job and have asked the bank to give me 2 months of time to stabilize things. However, they refused and said they could not. What can I do here? Please suggest a way out here. My last visa got canceled and currently on a visit visa. Will I be able to get an internal visa extension here? I want to continue here in the UAE, but the bank is making my life hell and giving me mental breakdowns and torture by collection calls.

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.

The provisions of this Decree by Law amend the Federal Law No. (18) of 1993 by replacing Clause (4) of Article (379) as well as Articles (600), (617), (641), (642), (643), (644), and adding new articles numbered (635) Bis, (641) Bis (1), (641) Bis (2), (641) Bis (3), (641) Bis (4), (643) Bis (1), (643) Bis (2), (644) Bis (1) and (644) Bis (2). The Decree-Law also repeals Articles (401), (402) and (403) of the Federal Law No. (3) of 1987.