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Old 07-03-2018, 02:10 AM   #1
confucius0324
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Default Debt Defaulter Needs Help

Hi, I am just new in the group, i would like to ask some advise. i have credit card in DIB 10000 and I have a loan also amounting to 70k (it was already the remaining balance since i was already paying them for 2 years and 1 month. I got terminated in my work last year october, the bank already confiscated my end of service. I got a job this april only and with that I was defaulted 3 months already. my last payment was this april. For my Credit Card I always pay the minimum amount. But for my loan, i could not pay because my salary is only 3000 and my loan is almost 3000. I was talking to the bank about restructuring but they did not agree they keep emailing and calling me using different numbers even at night. They ask me to pay 9k dhs for my loan, how do i pay that if my salary is not enough and i cant barely survive. I want to get out from these nightmare, i could not even sleep and could not stay focus in my work. do they will file a case on me now? what about travel ban? can anyone give me advise what i should do? i was really confused.
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Old 07-03-2018, 03:18 AM   #2
AFFA
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Default Re: Debt Defaulter Needs Help

I wish to inform you that first of all you may try and renegotiate your debt payments with the creditors. You may bring in friends and relatives with good credit to act as guarantors. If that is not possible then you may contact an attorney and seek guidance. Kindly note that unless fraud is involved, debt default up to AED 200,000 will generally be treated as a civil matter and you may have to pay additional fines if ordered by the Court.

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Old 07-03-2018, 03:54 AM   #3
confucius0324
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Default Re: Debt Defaulter Needs Help

Thank you, but I already ask them many times about restructuring and they refuse and ask me to pay the monthly dues which is 9000 dhs, i even told them that my company gives delay salary and placing my salary through al ansari despite of email requesting them to deposit my salary in my bank account. they always harassing me and never give time to talk. what i will do. and i do not have any relatives to help me. aside from that when i ask for attorney they dont want to do because they said that my loan and cc is only less than 100k. and what is that fraud means? i was paying them for 2 years and 1 month and because the company terminates me i lost my job. now i have job but my salary is still less what i can do? do they file me a case and how i will check if there is case files against me?
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Old 07-03-2018, 04:04 AM   #4
confucius0324
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Default Re: Debt Defaulter Needs Help

Quote:
Originally Posted by AFFA View Post
I wish to inform you that first of all you may try and renegotiate your debt payments with the creditors. You may bring in friends and relatives with good credit to act as guarantors. If that is not possible then you may contact an attorney and seek guidance. Kindly note that unless fraud is involved, debt default up to AED 200,000 will generally be treated as a civil matter and you may have to pay additional fines if ordered by the Court.

AFF
Thank you, but I already ask them many times about restructuring and they refuse and ask me to pay the monthly dues which is 9000 dhs, i even told them that my company gives delay salary and placing my salary through al ansari despite of email requesting them to deposit my salary in my bank account. they always harassing me and never give time to talk. what i will do. and i do not have any relatives to help me. aside from that when i ask for attorney they dont want to do because they said that my loan and cc is only less than 100k. and what is that fraud means? i was paying them for 2 years and 1 month and because the company terminates me i lost my job. now i have job but my salary is still less what i can do? do they file me a case and how i will check if there is case files against me?
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Old 07-04-2018, 04:57 PM   #5
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Quote:
Originally Posted by confucius0324 View Post
Hi, I am just new in the group, i would like to ask some advise. i have credit card in DIB 10000 and I have a loan also amounting to 70k (it was already the remaining balance since i was already paying them for 2 years and 1 month. I got terminated in my work last year october, the bank already confiscated my end of service. I got a job this april only and with that I was defaulted 3 months already. my last payment was this april. For my Credit Card I always pay the minimum amount. But for my loan, i could not pay because my salary is only 3000 and my loan is almost 3000. I was talking to the bank about restructuring but they did not agree they keep emailing and calling me using different numbers even at night. They ask me to pay 9k dhs for my loan, how do i pay that if my salary is not enough and i cant barely survive. I want to get out from these nightmare, i could not even sleep and could not stay focus in my work. do they will file a case on me now? what about travel ban? can anyone give me advise what i should do? i was really confused.
Just avoid any collection calls, emails and text messages, wait for the bank to file a case on you and you can get a positive judgment depending on the Emirate and cheque bounce amount. Do not panic.
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Old 07-04-2018, 04:59 PM   #6
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Thank you, but I already ask them many times about restructuring and they refuse and ask me to pay the monthly dues which is 9000 dhs, i even told them that my company gives delay salary and placing my salary through al ansari despite of email requesting them to deposit my salary in my bank account. they always harassing me and never give time to talk. what i will do. and i do not have any relatives to help me. aside from that when i ask for attorney they dont want to do because they said that my loan and cc is only less than 100k. and what is that fraud means? i was paying them for 2 years and 1 month and because the company terminates me i lost my job. now i have job but my salary is still less what i can do? do they file me a case and how i will check if there is case files against me?
Only if you are traveling outside the country be sure that you have mo pending case, if not then the police will automatically call you to the station if any case gets filed on you.
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Old 07-05-2018, 05:42 AM   #7
confucius0324
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Default Re: Debt Defaulter Needs Help

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Originally Posted by Dontyouworry View Post
Only if you are traveling outside the country be sure that you have mo pending case, if not then the police will automatically call you to the station if any case gets filed on you.
how to know if i have a case already and also how i will be able to solve this problem, please kindly advise.
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Old 07-06-2018, 03:05 AM   #8
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Default Re: Debt Defaulter Needs Help

Most probably the persons who are contacting you are collection agents. If you are asking them to restructure the loan they will not give you a positive answer, but insist you to pay the whole amount with other charges. It is good to contact the officials of the bank directly to reach a settlement and in most cases the banks will allow a reconstruction in repayment plans.
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Old 07-07-2018, 04:15 AM   #9
confucius0324
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Default Re: Debt Defaulter Needs Help

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Most probably the persons who are contacting you are collection agents. If you are asking them to restructure the loan they will not give you a positive answer, but insist you to pay the whole amount with other charges. It is good to contact the officials of the bank directly to reach a settlement and in most cases the banks will allow a reconstruction in repayment plans.
i went in the bank before asking for restructuring but everyone is passing me in each other, no one gives me clear answer or lend a hand to help settle my problem. they direct me to collection department and that department did not give me any chance of hope
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Old 07-08-2018, 04:04 AM   #10
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Default Re: Debt Defaulter Needs Help

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i went in the bank before asking for restructuring but everyone is passing me in each other, no one gives me clear answer or lend a hand to help settle my problem. they direct me to collection department and that department did not give me any chance of hope
Just HOLD the payment for 4-5months and you can negotiate with collection department and settle it, always negotiate 50% of the outstanding, do not count the overlimit / late payment fee. Collection agent will come and beg for the payment. If you have intention of settling your card / loan do it in a 1 shot, get all the documents and email confirming the same from the collection agent before settling it. Or else they might play with you.
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