Dealing with the credit card dues upon losing job

Dear Sir/ Madam,

Thank you for reaching out to me on this.

Please note that as long as you keep paying your EMI's the banks will not take any coercive action against you.

However, few banks have the policy to recall full credit card dues when a person is terminated as they fear you will leave the country leaving the dues unsatisfied.

Firstly, I would advise you to immediately get in touch with the bank and intimate your intention to settle the dues with some discount.

Secondly, in the worst-case scenario, the bank will bounce your security cheque and file a police case against you.

I am assuming the card dues are below AED 200k, you can simply approach the police station to pay a nominal fine and get the criminal case disposed of.

Once your criminal case is over, they cannot take any legal action to levy a ban on you.

I trust you will find the above satisfactory.

Regards,

Hari Wadhwana

052-9495731