Q: Hi, I lost my job a year ago and I have an outstanding credit card of AED 300k. I've missed the last 9 monthly payments (I am negotiating directly with the bank). I am willing to settle the credit card with one lump sum payment that a friend will lend me. How much discount on the balance of AED 300k can I negotiate to settle the matter? Should I also ask for a clearance/ no liability letter?

Q: Hi, My name is M., and I want to settle my credit card. I am in bad credit, what is the way?

Q: Hi Mr Hari I have had a cheque bounce with one of the banks in Dubai which was an inbuilt cheque in credit card application. They had submitted a police case against me in April 2018. I was taken at Al Ragga police station. asked to pay AED 2000 fine. I was presented in front of the public prosecutor. I accepted that I am unable to pay the credit card amount and the bank did not tell me that they are submitting the cheque. I paid the fine on-spot and the passport was given to me. I also got my Police Clearance Certificate. Now to my surprise, after all this pain and harassment, the credit card fellow and so-called collecting agent are threatening to do a civil case. They are saying we will cancel all the extra interest charged on the card amount. Just clear the basic card value. I told them I was paying minimum payments earlier as well. But the bank did such a wrong thing by declaring me absconding. I have given 4 good years to this country. Please advise. If I do not take their calls and threats, what will be the worst case scenario?

Q: Hi, I have 5 cards and 2 cash on card loan, and all total is AED 150,000. My salary is AED 12000 and I can't pay the minimum amount because of a shortage of funds. Now, I am really stuck in this, all my money is going to this. Can anyone help me with this? How can I come out of this? All the time I am in real stress because of this. Thank you S.

Q: In Jan 2020, due to my personal issue, I had to go back to my country. When I left Dubai, I still had an outstanding personal loan of 125K, but the bank already deducted 49K from my gratuity money. According to the bank, I still have 73K, but I'm unable to pay my instalment since I don't have any job or income source. I'm planning to go back to Dubai ASAP to find a job, but I also understand I will face a travel ban, and they will catch me once I enter the country. I would like to settle the outstanding if I have money, could someone advise me. Many thanks

Q: Hello, I have a question. My husband had a loan 15 years ago, he had difficulty paying this loan, and the bank opened a case, which was solved, and he paid the full loan. He is still in Dubai and has a good work position. How is it possible to remove the solved bank case from the database to have the possibility of getting the credit card and loan? Thank you.

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.