Questions & Answers
Negotiation for the restructure of a loan with bank
I have a personal loan at Dubai Islamic Bank. I was paying regularly but in 2016 me and my wife were having financial difficulties so I skipped 2 payments.
I kept paying regularly after that and wasn't able to catch up on that missed payment, and when my company was about to renew my visa, there was a case filed against me by the bank, so I got jailed.
To to cut it short, I paid an amount that was placed on what I am assuming the security check.
But until now they are still calling me and asking me to pay the remaining amount of my loan and threatening that they will file up another security check to got me jailed again.
I am very concerned and stressed as I am traveling by December of this year.
Kindly help please.
Thanks.
As understood from the question, there is default on the payment of a loan due to financial difficulty, and the bank has moved with a criminal action against the bounce of security cheque which you issued at the time of availing the loan.
The criminal case is sorted out by making the fine payment (assumed) or settlement.
Now, the bank is demanding the balance payment, if not, the bank shall proceed with another security cheque and consequential action.
In this situation, proper strategy while dealing with the bank is very crucial.
We need to see the full facts in detail to advise you on a proper strategy over the matter.
Please reach me through 0527520742 (call/Whatsapp) for further discussion.
