Questions & Answers
Questions & Answers
3 available 3 • View allCivil case for defaulting on the outstanding payments of credit card
3
Q: Dear Sir,
Good day.
I had a credit card with a bank in the past in 2016 and my credit limit was AED 7500. I lost my job so I was not able to pay this amount at that time.
The bank filed a criminal case against me and I went to jail for one month in 2016. Now, the bank called me again and asked about the payment, but I'm still not able to pay.
The recovery agent told me they are filing a civil case against me and they're asking me to pay AED 29000.
How is it possible as my card limit is 7500 only and that time the bank filed a case against me for AED 10000?
What should I do in this case?
Please assist me

Mar 12, 2019
2311
Possibility of a travel ban for pending payments of credit card
13
Q: Sir,
I have 2 credit cards. The payment is pending for the last 4 months. One card limit is 3000 and the other card limit is 8000. Can the bank put a travel ban against me?

May 12, 2019
5119
Missing credit card payments and its possible consequences
1
Q: Dear,
As my work got affected together with my salary and I wasn`t able to pay my credit card loan, I guess for last 3 months, I have received now a message from the bank saying: "... we would like to inform you that there is a police case initiated against you and its current status is (Cheque Already Bounced)."
Please may you explain what might it cause?
Thank you!

Oct 7, 2020
473
Legal blog
1 available 1 • View allThe Consequences of Job Loss and Defaulting on Financial Liabilities 26
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.
Feb 12, 2019
18992
Laws & Regulations
2 available 2 • View allFederal Law No. (18) of 1993 Issuing the Commercial Transactions Law 19
This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.
Sep 7, 1993
33127
Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
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.
Dec 15, 1985
148660

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