Questions & Answers
Settlement of a bank loan by paying the fine
Hello,
I would like to inquire about the fine for not paying my outstanding personal loan. My outstanding loan amount is AED 95,000 and I don't have money to repay this loan.
I came to know that there is no jail term if we do not pay the loan. I read somewhere that you just have to pay the fine which the bank will impose on you and that's it.
I would like to settle this matter with the bank by paying the fine. Can you please advise how much fine roughly I have to pay to settle my loan.
My bank is E.I.
Thank you in advance!
You can negotiate with the bank and settle the matter as per the mutual terms reached between you and the bank.
As read from the question about the payment of a fine, it is not through the bank, but it is conviction by the prosecutor court in a criminal case filed by the bank against the cheque fraud depending upon the amount of cheque.
However, civil liability shall continue. Your issues require the proper strategy before going ahead with the action.
Feel free to reach me 0527520742 (call/Whatsapp)
