Questions & Answers
Questions & Answers
6 available 6 • View allSettlement of an outstanding loan with the bank
11
Q: Dear Madam,
Just 2 days before I got termination from my company I am working at in the UAE since 24th Feb 2015, I took a personal loan from a bank.
Now, the total outstanding including interest is AED 90000. Can you please advise me because I am jobless?
I am working in a construction MEP company and it's not easy to get another job.
Best regards

Jan 8, 2019
5600
Consequences of defaulting on the payment of loan EMIs
10
Q: I have a personal loan with a bank amounting to approx. 180000 (Principal) post deduction from my end of service benefits. I was terminated from work on 10 Sept 2018.
Right now I am in India. My first EMI got bounced on Feb 2019. Please help me know what is the maximum punishment by the court in such a case. As of now, I am jobless.
If I come to Dubai to search for work, will there be a travel ban to exit from the UAE?
How can I extend my stay in Dubai as I will enter the UAE on a visit visa?
Can a settlement be through the insurance company as I was terminated by the company?
As of now, there's almost no chance to get any work in the UAE. Hence I am bankrupt.
What I can do in such a case?
Will I be able to work in the UAE and get a work visa if a case is registered?

Mar 25, 2019
1544
Sorting loan payment with the bank after losing job
10
Q: I already have a loan and now my visa is cancelled.
No job, no solution.
Please help me.

Apr 17, 2018
3319
I have a bank case on a personal loan and I cannot pay due to job termination. What can I do?




4
Q: Hi,
I have a bank case on a personal loan which was 2570000.
I paid EMIs up to 200733 and the rest of the amount needs to be paid, but my company terminated me and I couldn't get a job.
What should I do as the bank case has been filed and it's now in execution?





+2
Jun 6, 2024
1513
I have a cases and travel ban for loans and credit cards. Can I pay the fine and clear them?




0
Q: I had 10 loans in 2010 from various banks and credit cards and left the country due to job loss.
2 of those banks no longer exist today, and 3 of the banks have put a case and travel ban on me.
Now I spoke to a lawyer and he said they can clear the 3 cases by paying a fine/fees.
Will the bank still chase me for the remaining debt after this clearance process?
I plan to return to the UAE to work on a new job.
What about the remaining 5 banks that have not filed a case for personal loans/credit cards?
And what about the 2 banks that closed (for example [----])?
Thank you





+2
Jan 22, 2025
131
How can you reach a settlement to avoid legal action by the bank if you lose job and can not repay your loan?




0
Q: My brother lost his job in the UAE 8 months ago and has a debt of AED 170,000 to a bank.
He is finding it extremely difficult to make monthly loan payments to the bank, as he has been unable to find a job even after 8 months.
What options does he have to reduce/settle his bank debt without having restrictions on him, like a travel ban, etc?
Please help him find the best possible solution considering his current financial situation.





+1
Apr 9, 2025
144
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
18940
Laws & Regulations
3 available 3 • View allFederal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47948
Federal 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
33056
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
148514

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