Questions & Answers
Settlement for credit card overdue to avoid legal action
I have a Najm credit card, I used to do a minimum payment every month. I am working for a company for the past 2 years. I am not getting salary on time I used to get salary after every 2 or 3 months.
I did them a minimum payment but late by arranging for one or another. I came to know that there is a final settlement for the credit card where you can pay a fixed amount every month.
I requested them for the past 6 months but they didn't help me. Also, I came to know that they have put my salary of 11500 but I am getting a salary of 5000/-.
Every month they are torturing me, for that can you help me with this. They also say they will deposit my security cheque and file a police complaint.
This time when I went to meet one of the people for Najm card, I told him about my situation but they are not ready to listen.
He gave me two options, either to pay 18500/- in one stroke or 20500/- in 2 instalments
Hello,
Thank you for contacting me for your query.
I would require more precise information in order to advise you accurately. But from the information you provided, I can assess that you have a Najm credit card for which you were late on payments.
Most likely they have already blocked it for you and now they want you to clear the whole balance amount as soon as possible.
Please note that when you took a credit card, you have already agreed to the terms and conditions and you are expected to pay the accumulated balance, interest, late payment fees, penalties...etc.
If you are unable to pay the accumulated charges, the bank may use this security cheque against you. If the cheque bounces for insufficient funds, you will be a criminal offender in the UAE.
My advice is to negotiate for the settlement of this amount. And for that, you may involve a professional to talk on your behalf to get the most favourable results.
You may contact me at:
052 934 9402
khubaib@jmadvoactesuae.com
Best regards,
Khubaib Bin Naeem
